Standard Custody & Trust

What Standard Custody & Trust does

Standard Custody & Trust Company, LLC is a New York-chartered trust company and wholly-owned subsidiary of Ripple Labs Inc., operating as the regulated issuing entity for the RLUSD (Ripple USD) stablecoin. The company was acquired by Ripple in 2024 as part of its acquisition of Metaco and was subsequently rebranded as Ripple Custody. Standard Custody holds a New York State trust charter, NYDFS supervision, a BitLicense, and conditional OCC approval for a national trust bank charter, positioning it as the regulatory-credentialed entity within Ripple's broader payments and digital asset infrastructure. The entity is also pursuing a Federal Reserve master account application to gain direct access to U.S. banking rails.

The company's sole material product, RLUSD, is a U.S. dollar-backed stablecoin issued on both the XRP Ledger and Ethereum networks, with approximately 82% of circulating supply settling on the XRP Ledger. Reserves are held in cash, cash equivalents, and short-term U.S. Treasury instruments, with monthly third-party attestations from Deloitte confirming reserves exceed circulating supply (103%+ coverage). Distribution is channeled through major global cryptocurrency exchanges — Binance (January 2026), OKX (April 2026), and Gate.io (June 2026) — and through institutional partners including SBI VC Trade in Japan, where RLUSD launched on June 24, 2026 as the country's first "Type 4" electronic payment instrument for fiat-backed tokens. Reach expanded to roughly $1.7 billion in RLUSD market capitalization and $18.4 billion in Q1 2026 transfer volume.

Revenue is generated primarily through the yield spread on reserve assets backing RLUSD and through transaction-related fees for institutional issuance, redemption, and settlement services. Go-to-market is conducted principally through Ripple's enterprise field sales organization and through partnership-driven distribution with exchanges and regulated financial institutions. End customers include regulated financial institutions seeking compliant stablecoin rails for cross-border settlement and digital asset exchanges and liquidity providers operating in the trading ecosystem.

Name

Standard Custody & Trust

Legal name

Standard Custody & Trust Company, LLC

Website

https://standardcustody.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

101–250 employees

Short description

Standard Custody & Trust Company is a New York-chartered trust subsidiary of Ripple Labs that issues the RLUSD U.S. dollar-backed stablecoin, serving regulated financial institutions and cryptocurrency exchanges through compliant multi-blockchain digital settlement infrastructure.

Ownership category

akta.pro rank

Product category

Institutional Digital Asset Custody

NAICS

Trust, Fiduciary, and Custody Activities (523991)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)

akta.pro primary industry

Reserve Management, Custody & Segregated Accounts (Backing Infrastructure) (FSADADAD)

akta.pro secondary industries

Digital Asset Custody (Institutional Crypto Custody) (FSAFAHAH), Institutional Qualified Custody (Banks/Trust Companies) (FSADACAA), Custody Trust & Safekeeping Services (FSAAANAD)

Keywords

• Digital asset custody
• Stablecoin issuance
• Institutional escrow services
• Regulated stablecoin services
• Trust company services

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Stablecoin Issuance and Management: Standard Custody & Trust Company generates revenue through issuance and management of the RLUSD stablecoin. The company maintains reserves in U.S. dollar deposits and short-term treasury securities while earning yield on reserve assets. Revenue is derived from the spread between reserve yields and operational costs, as well as potential transaction fees for institutional settlement services.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

Standard Custody & Trust Company, LLC provides institutional-grade digital asset custody and escrow services under a New York trust charter with NYDFS oversight and BitLicense, and serves as the regulated issuing entity for the RLUSD U.S. dollar-backed stablecoin operating on the XRP Ledger and Ethereum networks. The company's core products target financial institutions, cryptocurrency exchanges, and institutional payment flows requiring a compliance-first, reserves-backed digital settlement instrument with monthly third-party attestations.

Product overview

Standard Custody & Trust Company, LLC is a subsidiary of Ripple Labs Inc. and serves as the regulated issuing entity for RLUSD, a compliance-first U.S. dollar-backed stablecoin. The company operates under NYDFS supervision and holds a trust charter, enabling it to provide institutional-grade stablecoin issuance with reserves backed by U.S. dollar deposits and short-term treasury securities. The product ecosystem includes RLUSD stablecoin for digital settlement and real-time value transfer, designed to serve enterprise and institutional payment flows within regulated financial infrastructure.

Differentiator

Problem solved

Functional benefit

Products and services

• RLUSD (Ripple USD) Stablecoin A U.S. dollar-backed stablecoin issued by Standard Custody & Trust Company, LLC, operating on the XRP Ledger and Ethereum networks. Backed by cash, cash equivalents, and short-term U.S. Treasury instruments, with monthly attestations from Deloitte confirming reserves exceed the circulating supply. Designed for enterprise and institutional payment flows and as a compliance-focused alternative to USDT and USDC.
• Institutional Digital Asset Custody Institutional-grade custody and escrow services for digital assets, provided under a New York trust charter with NYDFS oversight, BitLicense, and OCC conditional trust bank charter approval. Serves financial institutions, exchanges, and institutional clients requiring regulated digital asset storage and settlement.

Quantifiable outcome

• RLUSD achieved $1.7 billion market capitalization within approximately 18 months of December 2024 launch
• +2 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered flagship and core.

• SBI Holdings / SBI VC TradeflagshipChannel Partner/ Reseller/ Distributor · 24 June 2026SBI VC Trade launched RLUSD in Japan on June 24, 2026, as the country's first 'Type 4' electronic payment instrument for fiat-backed tokens. The partnership positions Standard Custody & Trust Company's RLUSD for institutional adoption in Japan and broader Asia-Pacific region, with zero fees for deposits and withdrawals.
• Gate.iocoreChannel Partner/ Reseller/ Distributor · 15 June 2026Gate.io listed RLUSD on June 15, 2026, with four trading pairs (BTC/RLUSD, ETH/RLUSD, XRP/RLUSD, RLUSD/USDT) and a 750,000 RLUSD incentive program covering trading rewards and liquidity incentives.
• OKXcoreChannel Partner/ Reseller/ Distributor · 1 April 2026OKX listed RLUSD in April 2026 as the second major exchange listing in the coordinated three-exchange expansion. Provides global spot trading access to RLUSD for OKX's institutional and retail user base.
• BinancecoreChannel Partner/ Reseller/ Distributor · 1 January 2026Binance listed RLUSD in January 2026 as the first major exchange listing in a coordinated three-exchange expansion strategy covering Binance, OKX, and Gate.io. The listing provides global spot trading access to RLUSD pairs.
• Ripple Labs Inc.flagshipStrategic or Co-development Partner · 1 December 2024Ripple Labs Inc. launched RLUSD through its subsidiary Standard Custody & Trust Company in December 2024. Standard Custody & Trust operates as Ripple's trust-chartered subsidiary with NYDFS and OCC regulatory approvals, BitLicense in New York, and serves as the issuing entity for the RLUSD stablecoin operating on XRP Ledger and Ethereum networks.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Circle Internet Financial: Circle issues USDC, the second-largest U.S. dollar stablecoin, and operates regulated infrastructure for digital asset treasury and custody. It is the most direct comparable to Standard Custody's RLUSD issuance and reserve management, competing for institutional stablecoin volume.
• Paxos Trust Company: Paxos is a NYDFS-regulated trust company that issues regulated stablecoins (PYUSD for PayPal, PAX) and provides institutional digital asset custody and tokenization infrastructure. Its trust charter and regulated stablecoin franchise directly mirror Standard Custody's positioning.
• Anchorage Digital: Anchorage was the first digital asset custodian to receive an OCC national trust charter and serves institutional clients with regulated custody, settlement, and stablecoin-related services. Its regulatory pedigree and institutional client mix make it a near-direct analog to Standard Custody.
• Tether: Tether issues USDT, the dominant dollar stablecoin with ~$189B in circulation, and maintains reserves and issuance infrastructure for institutional and exchange liquidity. It is the primary scale competitor to RLUSD in the dollar-pegged stablecoin category.
• BitGo: BitGo is a leading institutional digital asset custody and prime services platform serving exchanges, funds, and corporate treasuries. Its custody-plus-liquidity stack is highly comparable to the institutional services layer Standard Custody operates alongside Ripple's payments ecosystem.
• Fireblocks: Fireblocks provides institutional-grade custody technology, settlement, and tokenization infrastructure for banks, exchanges, and fintechs. Its custody-as-a-service platform competes with the regulated custody stack that underpins Standard Custody's RLUSD issuance and Ripple Custody offering.
• Gemini Trust Company: Gemini operates a NYDFS-regulated trust entity (GTC) that issues the GUSD stablecoin and provides qualified custody, directly overlapping with Standard Custody's regulated trust-charter, stablecoin issuance, and digital asset custody offerings.

Broad incumbents

• Coinbase Custody: Coinbase Custody is the institutional custody arm of Coinbase, one of the largest U.S. crypto exchanges, offering qualified custody and staking services. It is a broader incumbent competitor for institutional digital asset custody mandates that Standard Custody targets.
• Fidelity Digital Assets: Fidelity Digital Assets, part of Fidelity Investments, provides institutional digital asset custody and trading to asset managers, hedge funds, and corporate treasuries. It is a broad incumbent with regulatory standing comparable to Standard Custody's NYDFS/OCC posture for institutional clients.
• Bank of New York Mellon: BNY Mellon is a systemically important custodian that has built out regulated digital asset custody services for institutional clients. It is a strategic incumbent competing for the same bank-grade digital asset custody and stablecoin-related mandates that Standard Custody targets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights6 records

Customer concentration

• Xx.com/StandardCustody
• LinkedInlinkedin.com/company/standardcustody

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Standard Custody & Trust