Standard Chartered has teamed up with Circle to let institutional clients mint and redeem the USDC stablecoin directly through the bank’s system. This is another big step in bringing traditional banking and digital assets together. Eligible clients can now use Standard Chartered’s banking platform to access USDC, without needing separate Circle accounts. The service will start at the Dubai International Financial Centre (DIFC) and may expand to other markets if regulators approve.
Standard Chartered says it is the first Global Systemically Important Bank (G-SIB) to offer direct onboarding for USDC minting and redemption. The service puts stablecoin access under the same compliance, governance, and risk management rules that clients already use for regular banking.
By adding USDC to its digital asset services, the bank wants to offer one platform for banking, custody, and blockchain-based financial services. This should make it easier for institutions to use stablecoins without working directly with a crypto issuer.
This partnership shows how more traditional financial institutions are starting to use stablecoins for real-world needs. More institutions are looking at blockchain for settlement, treasury management, and liquidity as demand for regulated digital asset systems grows.
At first, the service will be offered through Standard Chartered’s operations in the Dubai International Financial Centre. The bank says it may expand to more markets depending on customer demand and regulatory approval.
Roberto Hoornweg, CEO of Corporate and Investment Banking at Standard Chartered, said the partnership aims to bring trusted banking standards to digital asset markets.
“Our goal is to enable broader institutional participation through the regulatory oversight and controls that have long supported confidence in global financial markets,” he said.
This announcement comes after Circle CEO Jeremy Allaire defended USDC’s place in the market as new stablecoins like Open USD (OUSD) appear. As competition grows, working with established banks could help stablecoin issuers reach more institutions.
Circle 🤝 Standard Chartered@StanChart has launched institutional USDC minting and redemption through DIFC, becoming the first G-SIB to offer institutional access to USDC through a regulated banking channel.
A major milestone for institutional stablecoin adoption.… pic.twitter.com/SufjFOqjyk
— Circle (@circle) July 2, 2026
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