Standard Chartered has started offering custody services for Ripple’s RLUSD stablecoin in Dubai and plans to connect the service with institutional trading platform LMAX Group.
The proposed link would allow clients to use RLUSD held with the bank as collateral for trades on LMAX, without transferring their tokens to the trading platform. However, this part of the arrangement is not yet live and remains subject to testing, documentation, regulatory requirements and internal approvals.
Source: sc.com
RLUSD is a stablecoin designed to maintain a value of one US dollar. Standard Chartered’s Dubai branch will provide custody services to eligible institutional clients, giving them a regulated banking option to hold the digital asset.
The planned connection with LMAX could make it easier for banks, investment funds and other large investors to trade digital assets while keeping their stablecoins with a bank. The bank would hold the tokens, while LMAX would accept their value as collateral for trading.
This arrangement could help institutions manage the risks involved in digital asset trading. Some investors may prefer not to keep their assets directly on a trading platform.
Standard Chartered’s global head of digital assets, securities services and transaction services, Waqar Chaudry, said institutional clients wanted to enter digital asset markets without compromising on the safety of their assets or risk management.
LATEST: 🏦 Standard Chartered launched institutional custody in Dubai for Ripple’s RLUSD on the XRP Ledger, with plans to make it eligible trading collateral with LMAX Group. https://t.co/OAriFD8NUh
— CoinMarketCap (@CoinMarketCap) October 12, 2026
The move also supports Ripple’s efforts to expand the use of RLUSD beyond payments and into institutional trading. Ripple provided LMAX with $150 million in financing in January as part of its plan to bring the stablecoin into the platform’s services.
Standard Chartered has been expanding its digital asset business in other markets too. Last week, it announced plans to offer custody services for selected cryptocurrencies, stablecoins and tokenised real-world assets to institutional clients in Singapore.
It also became the first bank to distribute one of Hong Kong’s two regulated stablecoins in August. If the LMAX link goes ahead, RLUSD could gain another use in institutional markets, particularly as collateral for trading.
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