Written by Helen Partzstaff writerReviewed by Robert Lakinstaff editor
Written by Helen Partzstaff writer
Reviewed by Robert Lakinstaff editor
Standard Chartered, Circle bring USDC minting onto banking rails
Latest NewsPublishedJul 2, 2026
Standard Chartered and Circle launch bank-led USDC minting and redemption for institutions, starting in Dubai’s DIFC with planned global expansion.
Standard Chartered and USDC issuer Circle have developed a system that lets institutional clients mint and redeem the USDC stablecoin through a bank-led onboarding process.
Standard Chartered stated Thursday it is the first Global Systemically crucial Bank (G-SIB) to offer such services for USDC, bringing stablecoin access into the same risk, compliance and governance frameworks used in traditional banking. Clients will be able to mint and redeem the US dollar-backed stablecoin directly through StanChart’s platform instead of opening separate accounts with Circle.
“By embedding USDC access directly within Standard Chartered’s institutional offering, Standard Chartered will bring together banking, custody, and digital asset services within one integrated offering,” the announcement stated. The initial rollout will be through the Dubai International Financial Centre (DIFC).
The collaboration comes as stablecoin infrastructure is increasingly integrated into traditional banking systems, as issuers and financial institutions compete to control how digital assets such as USDC are distributed and accessed.
Source: Circle on X.com
The capability supports institutional utilize cases such as onchain settlement, treasury, and liquidity management, while also providing the infrastructure to support payment-related utilize cases in the future.
Initial rollout via Dubai International Financial Centre
While the service is initially rolling out through Standard Chartered’s operations in the DIFC, the bank stated it intends to expand the capability to other markets, depending on regulatory approval and demand from clients.
Source: Standard Chartered
Roberto Hoornweg, CEO of corporate and investment banking at StanChart, stated the goal is to bring traditional banking standards into crypto markets as demand for regulated infrastructure increases.
“Ultimately, this is about enabling broader institutional participation in digital asset markets through the frameworks, controls and regulatory oversight that have long supported confidence in global financial markets,” he stated.
Related: French banking giant Crédit Agricole launches EURXT euro stablecoin
The news came in the wake of Circle CEO Jeremy Allaire’s statement defending USDC’s network effects against new stablecoin entrants like Open USD (OUSD), pointing to growing competition over distribution, liquidity and revenue models in the stablecoin market.
“With OUSD, we work closely with many of the founding members, and we expect that those same members will remain large USDC partners and customers,” he stated on Wednesday.
Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight
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- Circle
- Institutions
- Standard Chartered
- Banks
- Stablecoin
- UAE
- Industry
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