Standard Chartered Launches RLUSD Custody and Joins Planned Collateral Integration with Ripple and LMAX Group

Published: October 12, 2026

Standard Chartered’s custody support for Ripple USD (RLUSD) on the XRP Ledger (XRPL) is now live. The Bank is also working with Ripple and LMAX Group to enable RLUSD as eligible collateral and extend Standard Chartered’s collateral mirroring model to LMAX Group.

Standard Chartered today announced that it now supports institutional custody of Ripple USD (RLUSD) issued on the XRP Ledger (XRPL)[1], giving eligible clients access to the Bank’s digital asset custody infrastructure. The service is available through Standard Chartered Bank’s DIFC Branch, which is regulated by the Dubai Financial Services Authority (DFSA).

This marks the next phase of their collaboration to support institutional adoption of RLUSD, combining LMAX Group’s institutional-grade market infrastructure and Standard Chartered’s digital asset custody capabilities within a coordinated operating framework. The parties intend to enable RLUSD as eligible collateral for agreed LMAX Group products and solutions across trading and collateral management.

By mirroring the value of eligible collateral to LMAX Group without requiring the underlying RLUSD to be transferred directly to the trading venue, the arrangement is expected to give institutional clients greater flexibility in how they hold and deploy digital assets for trading, helping reduce transfer-related operational risk and optimise counterparty exposure while improving capital efficiency.

Waqar Chaudry, Global Head of Digital Assets, Securities Services, Transaction Services, Standard Chartered said: “Institutional clients want to participate in digital asset markets without compromising on how their assets are safeguarded or how risk is managed. The ecosystem must therefore make it easier for clients to hold assets securely, access liquidity and deploy collateral efficiently within trusted frameworks. By integrating our capabilities with Ripple and LMAX, we can help clients incorporate digital assets more confidently into their broader financial activities.”

Luke Dorney, Head of Custody, Digital Assets, LMAX Group said: “RLUSD is an increasingly important component of institutional digital asset markets. By agreeing to adopt Standard Chartered’s collateral mirroring model, we are providing clients with greater flexibility in how they hold and deploy RLUSD across our cross-asset marketplace, while supporting the custody and risk management standards institutions expect.”

Jack McDonald, SVP, Stablecoins, Ripple, said: "RLUSD was built for exactly this kind of institutional use case. Our customers want the efficiency of a regulated stablecoin without giving up the custody standards they already trust. Bringing together RLUSD on the XRP Ledger, Standard Chartered’s custody capabilities and LMAX Group’s institutional trading infrastructure creates a practical path for institutions to put stablecoins to work across global markets.”

The agreed future capabilities remain subject to final documentation, successful testing, applicable laws and regulations, internal approvals and jurisdictional readiness. Further details will be announced as implementation progresses.