Standard Chartered brings Ripple’s RLUSD into banking custody after $765 million quarterly surge
Eligible clients can custody XRPL-issued RLUSD through the DIFC branch; the planned LMAX collateral link remains conditional and undated. The post Standard Chartered brings Ripple’s RLUSD into banking custody after $765 million quarterly surge appeared first on CryptoSlate.
Standard Chartered has launched custody for Ripple's RLUSD stablecoin as it prepares to expand its use as collateral for institutional trading.
On Oct. 12, the bank announced that eligible institutional clients can now hold RLUSD issued on the XRP Ledger (XRPL) through its Dubai International Financial Center branch, regulated by the Dubai Financial Services Authority.
The launch forms part of a broader arrangement with Ripple and trading group LMAX that would allow institutions to use RLUSD as collateral while keeping their stablecoin holdings with Standard Chartered.
Under the proposed model, the bank would mirror the value of eligible RLUSD holdings to LMAX, enabling clients to support trading positions without transferring the underlying tokens directly to the venue.
The arrangement could reduce counterparty exposure and operational risks associated with moving assets between custodians and exchanges, while allowing institutions to deploy capital across trading activities.
The development comes as RLUSD emerges as one of the fastest-growing stablecoins by absolute market value added, reflecting Ripple's efforts to expand its use across financial markets.
According to RWA Foundation, Ripple recorded the second-largest increase in stablecoin market capitalization during the third quarter, adding $765.3 million over 90 days.
Only Circle's USDC posted a larger increase, $915 million, while United Stables ranked third at $474.2 million.
Data from DeFiLlama shows RLUSD's total circulating supply has since climbed to about $2.4 billion, with about $1.14 billion issued on XRPL and another $1.3 billion on Ethereum.