Standard Chartered has launched RLUSD custody services in Dubai, allowing clients to store and transfer Ripple's dollar-pegged stablecoin. This move is part of the bank's effort to expand its digital asset offerings in the region. RLUSD is a stablecoin pegged to the US dollar and is designed for institutional use. The bank's new service will enable clients to securely store, transfer, and settle RLUSD transactions.
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The bank is also planning to link its RLUSD custody services with LMAX, a leading institutional exchange, allowing clients to use RLUSD as collateral for trades. This move is a significant development in the growth of digital assets in the region. Standard Chartered's expansion of RLUSD custody in Dubai is also a testament to the increasing adoption of stablecoins among institutional investors.
