2 hours ago
4
What changes here
RLUSD could remain with Standard Chartered while LMAX recognises its agreed value as collateral for eligible trading products.
The planned model keeps the token with its custodian
Standard Chartered announced on October 12 that its Dubai International Financial Centre branch now provides institutional custody for RLUSD issued on the XRP Ledger. The service is available to eligible clients through the branch, which operates under Dubai Financial Services Authority regulation.
Ripple, Standard Chartered and LMAX Group are also working on an arrangement that could allow RLUSD held with the bank to count as eligible collateral for agreed LMAX products. The companies describe that feature as planned. Its implementation remains subject to final documentation, testing, regulatory requirements, internal approvals and jurisdictional readiness.
The proposal separates the location of the asset from its use in a trading relationship. A client could keep eligible RLUSD...
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