Standard Chartered announced it will provide custodial services for Ripple’s RLUSD stablecoin in its Dubai hub, marking the first major bank to support the token. The bank also said it will integrate RLUSD as eligible collateral on LMAX, a global exchange, strengthening the token’s utility.
The move signals growing institutional confidence in Ripple’s stablecoin, likely boosting demand for RLUSD and supporting XRP price. Traders may see increased liquidity and tighter spreads, while sentiment toward stablecoins improves, potentially drawing more capital into the sector and prompting other banks to consider similar services.
Analyzed by FNXT Experts