Standard Chartered’s regulated Dubai DIFC branch has opened institutional custody for $RLUSD issued on the XRP Ledger. Ripple’s $XRP is still quoted at 1.4074, up just 1.27% in 24 hours. I initially see this as licensing and access, not as new liquidity that is already usable. They’re still in talks with Ripple and LMAX, hoping to include $RLUSD as eligible collateral, so clients using the mirror model won’t need to transfer coins to a trading venue first. The paperwork, testing, and compliance approvals are not yet complete, and today’s modest gain doesn’t indicate how it will be priced going forward.
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