# Standard Chartered Launches Institutional Custody for Ripple USD Stablecoin

- URL: https://stocks.freetheai.org/news/standard-chartered-launches-institutional-custody-for-ripple-usd-stablecoin-538b4d
- Published: 2026-10-12T13:45:08Z
- Category: crypto; sentiment: bullish; impact: medium
- Symbols: [CRYPTO:RLUSDUSD](https://stocks.freetheai.org/symbols/CRYPTO-RLUSDUSD), [LSE:STAN](https://stocks.freetheai.org/symbols/LSE-STAN), [CRYPTO:XRPUSD](https://stocks.freetheai.org/symbols/CRYPTO-XRPUSD)
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Standard Chartered PLC (LSE:STAN) has rolled out institutional safekeeping for Ripple USD (CRYPTO:RLUSDUSD), a stablecoin minted on the XRP (CRYPTO:XRPUSD) Ledger. Operating through its Dubai International Financial Centre branch under Dubai Financial Services Authority oversight, the institution now provides secure storage for institutional asset holders. In tandem with Ripple and LMAX Group, the lender broadened its existing alliance to facilitate professional trading operations and collateral backing.

The setup utilizes a collateral mirroring strategy, enabling financial firms to use Ripple USD as backstop collateral without transferring token balances onto LMAX's exchange platform. This structure is designed to mitigate counterparty risk, streamline operational workflows, and enhance capital utilization. The release comes alongside a surge in activity on the XRP Ledger, which registered over 600,000 daily payments in late September, spanning 169 participating merchants and exceeding 13.94 million total transfers.

Market participants will monitor institutional uptake of the safekeeping service alongside broader network adoption. The announcement follows the bank's plan from the prior week to launch digital asset storage in Singapore for institutional and accredited corporate clients, aiming to cover chosen cryptocurrencies, stablecoins, and tokenized real-world assets. While elevated stablecoin usage highlights growing ledger utility, increased settlement volume does not automatically boost demand for XRP, though the token remains necessary to pay processing fees.

## Key points

- Standard Chartered PLC (LSE:STAN) introduced safekeeping services for Ripple USD (CRYPTO:RLUSDUSD) through its regulated Dubai entity.
- An expanded alliance with Ripple and LMAX Group allows traders to use the stablecoin as collateral without direct platform transfers.
- The move follows the bank's recent decision to offer institutional crypto custody in Singapore.
- The XRP (CRYPTO:XRPUSD) Ledger logged over 600,000 daily payments and 13.94 million transactions in late September.

## Questions and answers

### What institutional crypto service did Standard Chartered launch?

Standard Chartered introduced custody for Ripple USD via its Dubai branch, working alongside Ripple and LMAX Group to enable trading collateral services.

### How does RLUSD collateral mirroring protect institutional traders?

The model permits institutions to deploy Ripple USD as collateral without moving the underlying tokens onto LMAX's trading platform, lowering operational and counterparty risks.

### What additional digital asset plans has Standard Chartered announced?

The bank revealed plans to launch digital asset custody in Singapore for institutional and corporate clients, supporting select cryptocurrencies, stablecoins, and tokenized real-world assets.