Standard Chartered Launches Institutional Custody for Ripple USD

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by Maria Gutierrez

an hour ago

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Standard Chartered has taken a significant step in the cryptocurrency space by launching institutional custody services for Ripple USD. This initiative, announced on October 12, is set to bolster the operational capabilities of trading firms dealing with stablecoins. The source notes that this move is expected to enhance security and efficiency in the management of digital assets.

Custody Services through Standard Chartered's DIFC Branch

The custody services will be offered through Standard Chartered's DIFC branch, which operates under the regulation of the Dubai Financial Services Authority. This regulatory backing is expected to provide a secure environment for institutional investors looking to manage their Ripple USD assets effectively.

Attracting Large Trading Firms to the Stablecoin Market

By enhancing operational control and facilitating collateral mobility, this move aims to attract large trading firms to the stablecoin market. The integration of Ripple USD on the XRP Ledger further positions Standard Chartered as a key player in the evolving landscape of digital assets.

In a notable development, Ripple Prime has launched perpetual swaps for institutional clients, enhancing trading efficiency in the financial sector. This follows Standard Chartered's recent introduction of custody services for Ripple USD, highlighting the growing integration of digital assets. For more details, see Ripple Prime.

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