Standard Chartered Launches RLUSD Custody in Dubai
Standard Chartered has introduced institutional custody for Ripple’s RLUSD stablecoin on the XRP Ledger in Dubai.
Standard Chartered has launched institutional custody for Ripple’s RLUSD stablecoin on the XRP Ledger in Dubai, according to NewsCord. The bank is collaborating with Ripple and LMAX Group to enable RLUSD to serve as collateral for specific LMAX products utilizing its collateral mirroring model.
Institutional Integration
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The initiative connects the bank's custody infrastructure with Ripple’s newly established stablecoin offering and LMAX Group’s institutional trading products. By implementing a collateral mirroring model, institutional participants can utilize RLUSD across designated venues while maintaining custody standards.
Key Facts
- Standard Chartered launched institutional custody for Ripple's RLUSD in Dubai.
- The setup integrates the XRP Ledger stablecoin with LMAX Group products.
- The collaboration utilizes a collateral mirroring model for specific LMAX offerings.
Source: news.google.com
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