Standard Chartered has launched custody for Ripple’s RLUSD stablecoin through its Dubai International Financial Center branch, allowing eligible institutional clients to hold the stablecoin issued on the XRP Ledger. RLUSD has reached a circulating supply of approximately $2.4 billion after adding $765 million in the third quarter, making it the second-largest contributor to stablecoin market capitalization growth behind Circle’s USDC. The agreement with Ripple and trading group LMAX aims to allow institutions to use RLUSD as collateral while keeping their stablecoin holdings with Standard Chartered. Ripple has committed $150 million in financing to support LMAX’s expansion, which integrates RLUSD across its institutional trading infrastructure. The companies have not yet announced a launch date for the collateral integration, as they await final documentation, technical testing, and regulatory approvals.
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