Standard Chartered Launches RLUSD Custody and Plans Collateral Integration With Ripple and LMAX Group
Standard Chartered has launched institutional custody support for Ripple USD (RLUSD) issued on the XRP Ledger (XRPL). The service gives eligible clients access to the bank’s digital asset custody infrastructure through its DIFC Branch, regulated by the Dubai Financial Services Authority (DFSA). The launch is the next collaboration phase between Standard Chartered, Ripple, and LMAX Group to support institutional adoption of RLUSD.
Planned Integration
Standard Chartered is working with Ripple and LMAX Group to make RLUSD eligible collateral for agreed LMAX Group products and solutions in trading and collateral management. The arrangement will extend Standard Chartered’s collateral mirroring model to LMAX Group. Under this model, the bank can mirror the eligible collateral’s value to LMAX Group without needing clients to transfer the underlying RLUSD to the trading venue.
The approach gives institutional clients greater flexibility in holding and deploying digital assets for trading. It could also help reduce transfer-related operational risks, optimise counterparty exposure, and improve capital efficiency. The planned capabilities stay subject to final documentation, successful testing, applicable laws and regulations, internal approvals and jurisdictional readiness. The parties will announce additional details as implementation progresses.
What Executives Say
Waqar Chaudry, Global Head of Digital Assets, Securities Services, Transaction Services, at Standard Chartered stressed the need for institutions to access digital asset markets without compromising asset security or risk management. He explained that fusing Standard Chartered’s capabilities with Ripple and LMAX Group could help clients hold assets securely, access liquidity, and deploy collateral efficiently within trusted frameworks.
Luke Dorney, Head of Custody, Digital Assets, LMAX Group emphasised RLUSD’s augmenting importance in institutional digital asset markets. He explained that adopting Standard Chartered’s collateral mirroring model would give clients flexibility to hold and use RLUSD in LMAX Group’s cross-asset marketplace while maintaining expected custody and risk management standards.
Jack McDonald, SVP, Stablecoins, Ripple, explained that RLUSD supports institutional use cases. He stressed how fusing RLUSD on the XRP Ledger, Standard Chartered’s custody capabilities, and LMAX Group’s trading infrastructure could help institutions use stablecoins in global markets.
About Standard Chartered
Standard Chartered is a British multinational bank headquartered in London. It was formed in 1969 through the merger of the Chartered Bank of India, Australia, and China (founded in 1853) and the Standard Bank of British South Africa (founded in 1862). The bank operates in 53 markets with over 83,000 employees. Its services include corporate and investment banking, wealth management, and treasury operations.
About Ripple
Chris Larsen and Jed McCaleb founded Ripple in 2012. It is a financial technology company working on blockchain-based financial services. It helps banks, fintech companies, and businesses move money across borders, manage digital assets, and access blockchain-based financial infrastructure. Its services include Ripple Payments for cross-border transactions, Ripple Custody for securely storing and managing digital assets, and Ripple USD (RLUSD), a US dollar-backed stablecoin for payments and settlements.
About LMAX
LMAX Group is a financial technology company founded in 2010. It operates institutional execution venues for FX and crypto trading. It provides a transparent marketplace for institutional clients. LMAX ensures fair and efficient trading with high performance and low latency. It continuously expands its services, including LMAX Digital for digital assets. The company's goal is to offer secure and reliable trading and custody solutions. LMAX aims to lead in the financial and digital asset markets.
Wrapping Up
Standard Chartered’s RLUSD custody launch and planned collateral integration will expand institutional access to digital assets. The collaboration merges custody services with a collateral mirroring model to improve flexibility, risk management and capital efficiency.
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