LMAX Group, Ripple and Standard Chartered announced a collaboration on 12 October 2026 to enable Ripple USD (RLUSD) as eligible collateral across LMAX Group’s trading and collateral management products. Standard Chartered has launched custody support for RLUSD on the XRP Ledger (XRPL) through its Dubai International Financial Centre (DIFC) Branch, regulated by the Dubai Financial Services Authority (DFSA).
- Service: RLUSD custody on XRP Ledger through Standard Chartered’s DIFC Branch
- Regulator: Dubai Financial Services Authority (DFSA)
- Implementation: Collateral mirroring model without direct asset transfer to trading venue
The arrangement uses Standard Chartered‘s collateral mirroring model to reflect the value of eligible collateral to LMAX Group without requiring direct transfer of RLUSD to the trading venue. This approach is designed to give institutional clients greater flexibility in holding and deploying digital assets, while reducing operational risk and optimising counterparty exposure and capital efficiency.
RLUSD is an increasingly important component of institutional digital asset markets. By agreeing to adopt Standard Chartered’s collateral mirroring model, we are providing clients with greater flexibility in how they hold and deploy RLUSD across our cross-asset marketplace, while supporting the custody and risk management standards institutions expect.
– Luke Dorney, Head of Custody, Digital Assets, LMAX Group
Institutional clients want to participate in digital asset markets without compromising on how their assets are safeguarded or how risk is managed. The ecosystem must therefore make it easier for clients to hold assets securely, access liquidity and deploy collateral efficiently within trusted frameworks. By integrating our capabilities with Ripple and LMAX, we can help clients incorporate digital assets more confidently into their broader financial activities.
– Waqar Chaudry, Global Head of Digital Assets, Financing & Securities Services, Transaction Services, Standard Chartered
RLUSD was built for exactly this kind of institutional use case. Our customers want the efficiency of a regulated stablecoin without giving up the custody standards they already trust. Bringing together RLUSD on the XRP Ledger, Standard Chartered’s custody capabilities and LMAX Group’s institutional trading infrastructure creates a practical path for institutions to put stablecoins to work across global markets.
– Jack McDonald, SVP, Stablecoins, Ripple
The agreed future capabilities remain subject to final documentation, successful testing, applicable laws and regulations, internal approvals and jurisdictional readiness. Further details will be announced as implementation progresses. LMAX Group operates institutional-grade market infrastructure for digital and traditional assets.
Waqar Chaudry, Global Head of Digital Assets, Financing & Securities Services, Transaction Services at Standard Chartered. Source: LinkedIn
Jack McDonald, SVP of Stablecoins at Ripple. Source: LinkedIn
