Standard Chartered has just opened custody for Ripple’s RLUSD and plans to let institutions use it as trading collateral—a bank agreeing to safeguard assets for a stablecoin is a lot more interesting than the stablecoin itself. RLUSD runs on the XRP Ledger, and with custody in place, RLUSD held by institutions is no longer just money passing through a payment channel; it can now be posted as margin in trading accounts.
In the same week, the XRP Ledger Foundation acknowledged that a bug capable of threatening XRP’s 100 billion supply cap had been lurking for years because normal parameters had never triggered it. On one side, a bank is pushing RLUSD toward use as collateral; on the other, an old issue has just surfaced in the underlying ledger. The timing is pretty striking.
My take, in plain English: once banks step in to provide custody, stablecoins are finally starting to be treated as money, not just as a way to transfer funds.$XRP $RLUSD
In the same week, the XRP Ledger Foundation acknowledged that a bug capable of threatening XRP’s 100 billion supply cap had been lurking for years because normal parameters had never triggered it. On one side, a bank is pushing RLUSD toward use as collateral; on the other, an old issue has just surfaced in the underlying ledger. The timing is pretty striking.
My take, in plain English: once banks step in to provide custody, stablecoins are finally starting to be treated as money, not just as a way to transfer funds.$XRP $RLUSD