Standard Chartered Opens Institutional RLUSD Custody on the XRP Ledger
Plus: SWI Group Raises $894 Million for AI, UK Freezes Thet Li's London Penthouse
Good Morning Lions,
A global bank now holds Ripple's stablecoin for institutional clients, and the collateral piece matters more than the custody. A stablecoin that can be posted as margin at a major venue starts acting like cash. BUT the LMAX link is still a plan, so I think the excitement waits until clients actually use it. Over in mining, power is the scarce input and capital keeps chasing whoever already has it..
Standard Chartered Launches RLUSD Custody
TL;DR: Standard Chartered said Monday it launched institutional custody for Ripple's RLUSD stablecoin on the XRP Ledger through its DIFC branch. The bank also plans to let clients use the tokens as collateral at LMAX Group.
SWI Group Raises $894 Million for AI
TL;DR: SWI Group said it raised 800 million euros ($894 million) from institutional investors to expand its data center and AI computing projects. The money backs its move to shift Genesis Digital Assets, the bitcoin miner formerly owned by FTX, toward AI workloads.
UK Freezes Thet Li's London Penthouse
TL;DR: UK authorities froze a London penthouse belonging to Thet Li, the alleged finance chief of Prince Group, The Times reported. Separately, the U.S. has sought forfeiture of about $14 billion in Bitcoin tied to the group.
UBS Ties AI Trade to Power Limits
TL;DR: UBS argues in new research that power supply, grid capacity and data center space now drive the AI trade. The bank estimates 57 GW of capacity will be needed in 2027, against 38 GW of sites with confirmed power.
AVAX Outpaces Bitcoin and Ether
TL;DR: AVAX rose 49.7% over four weeks, outpacing Bitcoin and Ether, according to The Defiant. The gain came as Avalanche's Helicon upgrade went live, and Crypto Briefing reported $266 million in new RWA value on the network.
Solana Tops Tokenized Equities for One Day
TL;DR: Crypto Briefing reported Solana handled 65% of tokenized equities volume on one day during the week of its report. In a late-September stretch, Solana's share was about 35% and Robinhood Chain led with roughly 39%.
Shiba Inu Advisor Flags Airdrop Drainer
TL;DR: Shiba Eternity advisor Mazrael warned on X that a viral SHIB airdrop alert is a wallet drainer, according to U.Today. Mazrael urged users not to click the links and to report the accounts spreading the post.
The LMAX collateral link is still only a plan. If it goes live and clients start posting RLUSD as margin, bank-held stablecoins are doing real work in trading. If it slips, frens, all we got was a custody announcement 🦁 — Khal
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More crypto news, daily, at news.leodex.io. The Daily LEO · Written by the LEO Team, Edited by Khal.