According to Decrypt, the Dubai branch of Standard Chartered Bank will hold Ripple’s RLUSD stablecoin and permit client trading activity involving the asset without requiring physical movement of the tokens. The bank’s facility allows it to provide custody for the stablecoin while institutions interact with it through designated processes. A connection is being established with LMAX that enables institutions to use RLUSD as collateral for trading activities. Under this arrangement, the stablecoin remains in custody by Standard Chartered and does not need to be transferred out of the bank’s system when used as collateral or involved in client trades. The service targets institutional clients and focuses on using the asset within defined operational limits. No details are provided about timelines, scope beyond institutions, regulatory approvals, or volume expectations.
