Standard Chartered Adds RLUSD Custody in Dubai, Plans Collateral Link
Standard Chartered’s Dubai branch now holds Ripple’s RLUSD for clients and plans an LMAX connection to support its use as trading collateral without moving the tokens.
Standard Chartered’s Dubai branch has begun providing custody services for RLUSD, the stablecoin issued by Ripple.
The bank also plans to connect with LMAX so institutional clients can pledge the stablecoin as collateral for trading while it remains in custody.
The planned arrangement would separate the holding of the tokens from their use as trading collateral. Custody is already available, while the LMAX connection remains a planned addition.
Source: Decrypt
