Standard Chartered Launches RLUSD Custody as XRP Ledger Activity Surges
Standard Chartered has launched institutional custody services for Ripple’s RLUSD stablecoin on the XRP Ledger.The bank expanded its partnership with Ripple and LMAX Group to support institutional trading and collateral management. This will make RLUSD eligible collateral for agreed trading products and services.Under the proposed arrangement, institutions could use RLUSD as trading collateral without transferring the underlying tokens directly to LMAX’s trading platform.The collateral mirroring model aims to reduce counterparty exposure, improve capital efficiency and minimize operational risks.The RLUSD issued on XRP Ledger are now live through its Dubai International Financial Centre (DIFC) branch, regulated by the Dubai Financial Services Authority.Ripple SVP of Stablecoins Jack McDonald said the partnership creates a practical way for institutions to deploy regulated stablecoins across global markets while maintaining trusted custody standards.RLUSD announcement follows Standard Chartered’s plans, announced last week, to introduce digital asset custody services in Singapore.The proposed Singapore offering will serve institutional and accredited corporate clients, covering selected cryptocurrencies, stablecoins and tokenized real-world assets.XRP Ledger Activity SpikesCrypto blockchain researcher BankXRP highlighted growing activity across the XRP Ledger.XRPL recorded more than 600,000 daily payments in late September, alongside 169 registered merchants and over 13.94 million transactions.The figures suggest expanding network usage as Ripple strengthens RLUSD’s institutional adoption.However, increased RLUSD settlement activity does not necessarily translate directly into higher XRP demand, although XRP remains the network’s native asset used for transaction fees.Image: Shutterstock Read Also: