Current outcome
Standard Chartered's Dubai branch now offers RLUSD custody to eligible institutional clients; the planned collateral arrangement with Ripple and LMAX Group is not yet live and remains subject to approvals and testing.
Progress timeline
2 material updates- #01
Standard Chartered adds Ripple USD custody, eyes LMAX collateral deal
Standard Chartered has rolled out institutional custody for Ripple's RLUSD stablecoin on the XRP Ledger and plans to extend its collateral-mirroring model to LMAX Group so institutions can post RLUSD as trading collateral while assets remain in the bank's custody.
Source evidence: Cointelegraph · The Block · CoinDesk · theblockbeats · The Defiant
- #02
【渣打银行上线 RLUSD 托管服务，拟与 Ripple、LMAX 合作将 RLUSD 用作抵押品】
Confirmed the custody service is offered through Standard Chartered's DFSA-regulated DIFC branch, and that making RLUSD eligible collateral for LMAX products still requires final documentation, testing, internal approvals, and regulatory preparations.
State after update: Standard Chartered has launched institutional custody for Ripple's RLUSD on the XRP Ledger via its DFSA-regulated DIFC branch and is working with Ripple and LMAX Group to make RLUSD eligible collateral for selected LMAX products using a collateral-mirroring model, subject to final documentation, testing, internal approvals, and regulatory preparations.
Source evidence: foresightnews · CryptoSlate · Decrypt