Standard Chartered Makes Major Launch for RLUSD on XRP Ledger

One of the world’s most established financial institutions just made a move that signals growing confidence in digital assets.

Standard Chartered confirmed it now supports institutional custody of Ripple USD (RLUSD) on the XRP Ledger (XRPL).

The service is live and available through the bank’s DIFC Branch, regulated by the Dubai Financial Services Authority.

Custody, Collateral and Capital Efficiency

Eligible clients now have access to Standard Chartered’s digital asset custody infrastructure for RLUSD. The bank is also working with Ripple and LMAX Group to make RLUSD eligible collateral across agreed LMAX Group products and solutions covering trading and collateral management.

The structure allows clients to mirror collateral value to LMAX Group without transferring the underlying RLUSD directly to the trading venue. This gives institutions greater flexibility in how they hold and deploy digital assets, reduces transfer-related operational risk, and improves capital efficiency.

XRP Stands to Gain

RLUSD runs on the XRP Ledger. Every institutional use case built around RLUSD strengthens the infrastructure that XRP depends on. As banks and trading venues adopt RLUSD for collateral and settlement, the XRPL becomes a more active part of global financial workflows.

Waqar Chaudry, Global Head of Digital Assets at Standard Chartered, said the goal is to help clients “incorporate digital assets more confidently into their broader financial activities.” Putting a regulated stablecoin inside a trusted custody environment is precisely what institutional participants need before committing capital.

LMAX and Ripple Add Institutional Depth

Luke Dorney, Head of Custody and Digital Assets at LMAX Group, confirmed the group adopted Standard Chartered’s collateral mirroring model to give clients “greater flexibility in how they hold and deploy RLUSD across our cross-asset marketplace.” LMAX serves funds, banks, asset managers, and buy-side institutions across more than 100 countries.

Jack McDonald, SVP of Stablecoins at Ripple, said RLUSD “was built for exactly this kind of institutional use case.” Combining RLUSD on the XRP Ledger with Standard Chartered’s custody capabilities and LMAX’s trading infrastructure creates a practical path for institutions to put stablecoins to work across global markets.

Standard Chartered’s Role Is Hard to Ignore

Standard Chartered’s involvement carries real significance because of its scale and regulatory standing. Its custody decision on RLUSD places the asset inside the same infrastructure institutions already trust for traditional finance.

The agreed future capabilities remain subject to final documentation, testing, and regulatory readiness, with further details expected as implementation progresses.