Ripple Tech Sees Widespread Adoption as Standard Chartered Expands XRP Ledger Presence

Main Market Developments

Standard Chartered's launch of a Ripple USD custody service on the XRP Ledger network marks a significant milestone in the banking giant's multi-year transition to full-fledged industrial infrastructure. The service, launched jointly with LMAX Group, uses a collateral mirroring model, allowing institutional clients to use the RLUSD stablecoin for margin trading without directly transferring the asset to an exchange.

Institutional Investment and Tokenization

The launch of Evernorth, a public XRP treasury, on Nasdaq under the ticker XRPN, demonstrates the growing adoption of XRP in the market. The treasury fund holds 473 million XRP (about $672 million) and $300 million in cash on its balance sheet. Evernorth's new chief investment officer Hugo Zhandeboz announced that XRP reserves will be directed into credit derivatives strategies and liquidity pools in DeFi to increase yield per share.

On-Chain Trends and Security

The total value of represented assets on XRPL is $4.47 billion, with the RWA sector volume recorded at $496.45 million. Stablecoin capitalization on the network stands at $1.18 billion. The thirty-day volume of tokenized asset transfers grew by 1,456.8%, reaching $7.03 billion. RippleX and the XRP Ledger Foundation closed a critical bug in the payment engine that had existed since 2015, ensuring the security of the network.

Market Outlook

The main trigger of the morning was an infrastructure launch: Standard Chartered opened a custody service for the Ripple USD (RLUSD) stablecoin on the XRP Ledger network through its Dubai branch. At the same time, trading in shares of Evernorth, which operates as a public XRP treasury, began on Nasdaq under the ticker XRPN. This launch completes the banking giant's multi-year transition from early blockchain experiments to full-fledged industrial infrastructure. The companies' relationship dates back to 2015, when Standard Chartered conducted its first distributed ledger tests in trade finance and entered Ripple's capital, investing $55 million in the Series B round.