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Standard Chartered has expanded its digital asset services by offering custody for Ripple's stablecoin, RLUSD, out of Dubai. Additionally, the banking giant plans to establish a collateral integration link with institutional trading venue LMAX. This step follows Ripple's recent $150 million financing commitment to LMAX, aimed at embedding RLUSD deeply into institutional trading infrastructure.
Integrating RLUSD into a major global bank's custody system in Dubai marks a significant milestone for institutional adoption of stablecoins. The linkage with LMAX allows institutional traders to utilize RLUSD as collateral for trading activities, enhancing liquidity, capital efficiency, and market depth for the stablecoin in cross-border financial transactions.
The development highlights Dubai's growing prominence as a global hub for regulated digital asset infrastructure. MENA investors and institutions are positioned at the forefront of this adoption, with institutional-grade banking support providing greater regulatory clarity and security for digital asset allocations.
