Key Takeaways
- Standard Chartered’s DIFC Branch has launched institutional custody support for Ripple’s RLUSD stablecoin on the XRP Ledger.
- The bank plans to integrate with LMAX Group to allow institutional clients to post RLUSD as trading collateral while keeping assets banked.
- As of October 12, 2026, RLUSD traded at $1.00, while $XRP was priced at $15.21.
Standard Chartered Expands Stablecoin Custody in Dubai
Standard Chartered announced Monday, October 12, 2026, that its DIFC Branch in Dubai now supports institutional custody for Ripple USD (RLUSD) issued on the XRP Ledger, according to Decrypt [1]. The digital asset custody service operates under the regulation of the Dubai Financial Services Authority (DFSA) [1].
The British bank has also joined a planned integration with London-based marketplace LMAX Group to make RLUSD eligible collateral on agreed LMAX products [1]. Under a setup called collateral mirroring, RLUSD will remain in custody at Standard Chartered while LMAX receives a mirrored record of its value toward client trades, ensuring tokens do not transfer to the exchange [1].
"Institutional clients want to participate in digital asset markets without compromising on how their assets are safeguarded," said Waqar Chaudry, head of digital assets in Standard Chartered's securities services unit [1].
Ripple launched RLUSD in December 2024 on Ethereum and the XRP Ledger [1]. The stablecoin received approval from Dubai regulators in June 2025 [1]. Standard Chartered has offered crypto custody in Dubai since 2024, and disclosed in July that it became the first global systemically important bank to allow institutions to directly mint and redeem Circle's USDC [1].
As of October 12, 2026, RLUSD traded at $1.00, while $XRP stood at $15.21, down 1.62% over the prior period.
Why It Matters
Collateral mirroring offers institutional investors a way to trade on digital asset venues while keeping underlying assets stored at a regulated financial institution [1]. Standard Chartered is designated by the Financial Stability Board as one of 29 banks considered too big to fail [1]. Keeping collateral on the bank's books protects traders' assets from exchange counterparty risks in the event of an exchange collapse [1].
What to Watch
The LMAX integration is not yet live and remains subject to final documentation, testing, and regulatory approvals [1]. Standard Chartered has not disclosed a specific date for when clients can begin posting RLUSD as margin [1].
