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Standard Chartered launches RLUSD institutional custody in Dubai
Standard Chartered has launched institutional custody services for Ripple's RLUSD stablecoin on the XRP Ledger. The service is available through the bank's Dubai International Financial Centre (DIFC) branch and is regulated by the Dubai Financial Services Authority (DFSA).
In collaboration with Ripple and LMAX Group, the bank is developing a 'collateral mirroring' model. This arrangement would allow eligible institutions to use RLUSD held in custody as trading collateral on LMAX Group platforms without needing to transfer the underlying tokens directly to the trading venue.
RLUSD has seen significant growth, with its supply increasing by approximately $765 million during the third quarter, bringing its market capitalization to roughly $2.4 billion. Additionally, TrustLinq has expanded its partnership with Ripple, enabling RLUSD holders to make fiat payments to bank accounts in over 190 countries and 80 currencies.
Separately, 3iQ Middle East, a subsidiary of Coincheck Group, has received in-principle approval from the Abu Dhabi Global Market (ADGM) to provide financial services, including potential digital asset ETF offerings.
Entities
Dubai International Financial Centre · LMAX Group · RLUSD · Ripple · Standard Chartered · Zodia Custody
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] Ripple's RLUSD supply grew by approximately $765 million during the third quarter. www.criptotendencias.com · cryptoslate.com
- [● 12 SOURCES] Standard Chartered has launched institutional custody services for Ripple's RLUSD stablecoin through its Dubai International Financial Centre (DIFC) branch. comparic.pl · coindoo.com · www.criptotendencias.com · en.bitcoinsistemi.com · ambcrypto.com · +6 more
- [● 12 SOURCES] The RLUSD custody service is provided through the bank's branch in the Dubai International Financial Centre (DIFC) under DFSA regulation. comparic.pl · coindoo.com · www.criptotendencias.com · en.bitcoinsistemi.com · ambcrypto.com · +6 more
- [● 5 SOURCES] RLUSD has a market capitalization of approximately $2.4 billion to $2.45 billion. ambcrypto.com · cryptoslate.com · decrypt.co · www.it-boltwise.de · www.tokenpost.com
- [● 12 SOURCES] Standard Chartered is collaborating with Ripple and LMAX Group to allow RLUSD held in custody to be used as trading collateral via a mirroring model. comparic.pl · coindoo.com · www.criptotendencias.com · en.bitcoinsistemi.com · ambcrypto.com · +6 more
- [○ 1 SOURCE] 3iQ Middle East received in-principle approval from the Abu Dhabi Global Market (ADGM) regulator.
- [● 2 SOURCES] Standard Chartered plans to offer digital asset custody services in Singapore. www.btc-echo.de · coinpedia.org
- [● 2 SOURCES] TrustLinq enables RLUSD-funded bank payments to over 190 countries and 80 currencies. chainwire.org · www.tokenpost.com