Standard Chartered has launched custody services for Ripple USD (RLUSD), a stablecoin issued on the XRP Ledger (XRPL), through its branch in the Dubai International Financial Centre (DIFC). T
Standard Chartered has launched custody services for Ripple USD (RLUSD), a stablecoin issued on the XRP Ledger (XRPL), through its branch in the Dubai International Financial Centre (DIFC). The announcement, published on 12 October 2026, marks a concrete step by a major global bank into institutional digital-asset custody in the Middle East.
Custody, in the digital-asset world, means a regulated institution holds and safeguards tokens on behalf of clients. Think of it like a secure vault that also handles the paperwork. It is separate from issuing, trading, or advising on cryptocurrencies. For related coverage, see UK Court Ruling Could Affect Claims on 61,000 BTC.
The asset being held is RLUSD, a US dollar-pegged stablecoin issued by Ripple on the XRP Ledger. A stablecoin is a cryptocurrency designed to maintain a fixed value, in this case one US dollar per token. The XRP Ledger is a public blockchain that has been running since 2012 and is primarily associated with the token XRP. For related coverage, see Russia Adds Sberbank to Crypto Exchange Register.
According to the Standard Chartered press release, the RLUSD custody service is live. Waqar Chaudry, a Standard Chartered executive named in the announcement, said that institutional clients want to participate in digital asset markets without compromising on how their assets are safeguarded or how risk is managed. For related coverage, see Fake Payment Addresses Target 4.5M Solana Wallets.
The DIFC is Dubai's financial free zone, home to hundreds of global banks, funds, and fintech firms operating under its own legal and regulatory framework. Delivering this service through the DIFC branch means Standard Chartered is offering it within a recognised international financial hub, under DFSA oversight.
The XRPL-specific framing matters because not all versions of RLUSD are the same. Ripple has issued RLUSD on more than one blockchain. The Standard Chartered custody service covers the XRP Ledger version specifically, which is a technical detail relevant to institutional clients choosing how to hold the token. XRP, the native token of that same ledger, was trading at $1.36 at the time of the announcement.
XRP spot price $1.36 Supplied market-data snapshot; context only, not attribution to the custody news. Source: CoinGecko.XRP was also down 3.14% over the 24 hours surrounding the announcement, with a market capitalisation of roughly $86 billion and daily trading volume of around $1.5 billion. That price movement reflects broader crypto market conditions and should not be read as a direct reaction to the custody news.
XRP 24-hour change -3.14% Supplied 24-hour market-data snapshot; no causal link to the announcement is asserted. Source: CoinGecko.The broader crypto market was in a "Greed" mood at the time, with the Crypto Fear and Greed Index reading 69 out of 100. That is general market context, not a signal about RLUSD specifically. Wider institutional appetite for crypto has been visible in other corners of the market too, including recent Bitcoin and Ethereum ETF flow data.
Alongside the custody launch, Standard Chartered, Ripple, and trading venue operator LMAX Group announced a plan to make RLUSD eligible as collateral for certain LMAX products. Under this arrangement, eligible RLUSD held in custody at Standard Chartered would not need to be physically transferred to the trading venue, reducing counterparty risk for institutional traders.
However, the announcement explicitly describes this collateral integration as planned and forward-looking. It is subject to final documentation, testing, applicable laws and regulations, internal approvals, and jurisdictional readiness. None of that has been completed yet. The live part of today's news is custody only.
For someone new to crypto, the practical takeaway is straightforward: a major international bank now holds RLUSD in a regulated environment on behalf of clients, through a well-known financial centre in Dubai. That is a meaningful sign that institutional infrastructure around stablecoins on the XRP Ledger is maturing, even if the broader collateral use case is still in progress.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
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