Standard Chartered Launches Custody Service for Ripple USD Stablecoin
Standard Chartered PLC (STAN) launched a custody service for Ripple USD (RLUSDUSD), allowing institutional funds to store the digital dollar inside a regulated European bank. In addition, Ripple, Standard Chartered, and LMAX Group are finishing tests on a cross-platform system that lets brokers accept bank-held Ripple USD as trading collateral. SC Ventures, Ripple, and Circle also joined a funding round for platform OKX, valuing the company at $25 billion.
The institutional rollout highlights growing demand for dollar-backed stablecoins in corporate bank settlements. Ripple USD has reached a market capitalization of $2.41 billion, placing it 39th among global stablecoins, close behind PayPal USD at $2.9 billion. At the same time, native XRP (XRPUSD) transactions remain distinct from these institutional flows, as microscopic network fees mean stablecoin activity produces little fee burning for XRP.
Investors will watch how quickly institutional conservative funds adopt bank-based custody and collateral services for stablecoins. Market participants will also monitor whether expanding institutional settlement networks eventually drive broader usage across cryptocurrency markets.
Key points
- Standard Chartered PLC launched a custody service allowing institutional funds to store Ripple USD in a regulated bank.
- Ripple USD reached a market capitalization of $2.41 billion, ranking 39th among global stablecoins.
- Ripple, Standard Chartered, and LMAX Group are testing a system using bank-held Ripple USD as trading collateral.
- SC Ventures, Ripple, and Circle participated in an investment round that valued OKX at $25 billion.
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What is Standard Chartered's new service for Ripple USD?
Standard Chartered launched a custody service that enables conservative institutional funds to store Ripple USD in a regulated European bank rather than on cryptocurrency exchanges.
What is the market capitalization of Ripple USD?
Ripple USD has achieved a market capitalization of $2.41 billion, placing it 39th in global stablecoin rankings and just behind PayPal USD at $2.9 billion.
How are banks testing Ripple USD for trading collateral?
Ripple, Standard Chartered, and LMAX Group are testing a cross-platform system where funds hold Ripple USD in bank accounts while brokers recognize the balance as trading collateral.