XRP
Standard Chartered Adds Custody for Ripple Stablecoin RLUSD in Dubai
Standard Chartered has launched custody services in Dubai for Ripple's dollar stablecoin RLUSD, though the arrangement excludes the native cryptocurrency XRP.
Standard Chartered has introduced custody services for Ripple's dollar-pegged stablecoin, RLUSD, through its branch in Dubai. The financial institution is also planning an initiative with LMAX Group to enable institutional clients to use RLUSD as collateral on LMAX's trading venue. The arrangement allows clients to pledge RLUSD held with the bank without converting the assets back into cash.
The service does not include XRP, the native token of the XRP Ledger. While both tokens originate from Ripple, RLUSD is designed to maintain a $1 peg backed by cash and short-term government bonds, whereas XRP fluctuates based on market dynamics. Custody provides third-party storage and key management for institutional entities restricted from holding private keys directly.
Following the announcement, XRP traded at $1.40 on October 12, 2026. The asset was down 7.7% over seven days, up 2.6% over the month, and stood 61.6% below its all-time high.
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