Standard Chartered adds Ripple’s RLUSD stablecoin custody on XRP Ledger

Standard Chartered has started holding Ripple ’s RLUSD stablecoin on the XRP Ledger, marking a significant move for the international banking group into crypto asset custody. The latest development was detailed by Dr. Kamilah Stevenson, an analyst specializing in wealth and banking, who described both the current custody process and new trading possibilities for institutional clients. Standard Chartered’s RLUSD custody is managed through its branch at the Dubai International Financial Centre, regulated by the Dubai Financial Services Authority. The bank plans to extend its offerings through a partnership involving Ripple, the blockchain-focused payments operator, and LMAX, a platform providing institutional access to currency and cryptocurrency trading. Under a solution described as “collateral mirroring,” Standard Chartered would maintain custody of institutional clients’ RLUSD.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CoinTurk News.