Standard Chartered announced on October 12 the launch of an institutional custody service for RLUSD on the XRP Ledger, now available for eligible clients at its Dubai International Financial Centre branch. RLUSD, launched in December 2024 and backed by dollar deposits and US Treasury securities, aims for a one-to-one dollar peg. Simultaneously, Standard Chartered, Ripple and LMAX Group are developing a collateral mirroring mechanism allowing RLUSD held in custody to be used as trading collateral without direct transfer to the platform. This arrangement remains under development with no launch date specified. The agreement between Ripple and LMAX includes 150 million dollars in financing to support RLUSD integration into settlement and collateral operations.
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