Standard Chartered to provide Ripple RLUSD custody services via Dubai branch
MSTR Strategy Inc
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View chart & analysis → - 1Standard Chartered is offering institutional custody services for the Ripple RLUSD stablecoin based on the XRP Ledger through its Dubai branch.
- 2Leveraging Standard Chartered's approximately 450 billion USD in assets under management, the bank plans to collaborate with LMAX Group to allow customers to use RLUSD as trading collateral.
- 3Ripple provided 150 million USD in financial support to LMAX Group in January.
So what's the key point?
Standard Chartered is starting a service in Dubai to hold Ripple's new coin for customers. This will allow large-scale investors to use the coin as collateral when trading.
Source CoinDesk +1 · View original ↗
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