Standard Chartered has launched institutional access to USDC minting and redemption through its Dubai International Financial Centre operations, in partnership with Circle.
The service gives eligible institutional clients one onboarding and service route for USDC access, without requiring them to open direct accounts with Circle.
The launch makes Standard Chartered the first Global Systemically Important Bank licensed to offer institutional USDC minting and redemption access through a regulated banking channel. Circle, the issuer of USDC through its regulated entities, said the launch gives institutions another route to stablecoin liquidity inside a bank-led setup.
The new service connects fiat banking, digital asset infrastructure and public blockchain networks within one institutional offering. According to Circle’s Thursday announcement, the setup supports on-chain settlement, treasury operations and liquidity management. It also creates infrastructure for future payment-related use cases.
Standard Chartered said the product will bring together banking, custody and digital asset services under the compliance, governance and risk controls expected from a large international bank. The bank will start with eligible clients in DIFC and plans to expand into more markets, subject to regulatory approval and local readiness.
Circle adds a regulated channel for institutions
Roberto Hoornweg, chief executive officer for corporate and investment banking at Standard Chartered, said “Digital assets are becoming an increasingly important component of global financial infrastructure.” He added that the bank wants to support broader institutional participation through “frameworks, controls and regulatory oversight.”
Circle chief commercial officer Kash Razzaghi said financial institutions are looking for trusted ways to access stablecoins and blockchain-enabled markets.
“By integrating Circle’s regulated stablecoin infrastructure into Standard Chartered’s global banking platform,” He said.
Institutions can use USDC across payments, settlement and treasury operations while keeping expected risk standards. The service also removes a step for institutions that want USDC access but prefer a bank relationship.
Instead of onboarding directly with Circle, eligible clients can use Standard Chartered’s integrated channel. This structure may appeal to banks, asset managers, trading firms and corporates that already rely on bank controls for treasury and settlement work.
Meanwhile, Circle co-founder and chief executive Jeremy Allaire said on X that Standard Chartered had become the first G-SIB to offer direct USDC liquidity as a bundled service for institutional clients. He said demand from major banks to offer USDC keeps growing alongside onchain payments, treasury activity and tokenization.
Stablecoin demand grows across large financial firms
The launch comes during a busy week for stablecoins and institutional digital assets. As The Coin Headlines reported, a group of more than 140 fintech, crypto and traditional finance firms launched Open USD, or OUSD, a new stablecoin designed by Open Standard. The report said the stablecoin market was worth about $307 billion at the time of writing.
Standard Chartered was among the banking names tied to the wider OUSD network, along with BNY and Commonwealth Bank of Australia. In addition, Circle shares were trading at $61.95 at press time under the CRCL ticker on NYSE, according to Google Finance data.
The latest Standard Chartered and Circle launch gives USDC a different path into institutions. OUSD focused on a broad network of payments, fintech and crypto partners. By contrast, the new Standard Chartered service focuses on regulated bank-led access, with minting and redemption built into one banking process.
Previously, The Coin Headlines reported in May that the stablecoin market had grown from under $10 billion six years ago to more than $300 billion, with almost 98 percent tied to the U.S. dollar. The same report said Tether and Circle dominated 90 percent of the market.
UAE route links banks, treasury and tokenization
Regulators and central banks have continued to watch the stablecoin sector. European Central Bank President Christine Lagarde pushed back on the case for euro stablecoins, while policy debates focused on monetary control, market plumbing and private issuers.
In another related development, Ethereum Institutional launched as an independent non-profit backed by BitMine, SharpLink and Ethereum co-founder Joe Lubin, as reported yesterday. The group aims to support institutional use of Ethereum, Layer 2 networks and related applications as large firms review stablecoins, tokenization and onchain markets.
Ethereum currently hosts about $180 billion of stablecoins on mainnet, equal to roughly 60 percent of total stablecoin supply. Moreover, Ethereum supports about two-thirds of tokenized real-world assets. Those figures show why banks and stablecoin issuers are building services for settlement, treasury and tokenized markets.
Standard Chartered’s first rollout through DIFC also places the UAE at the center of the launch. Circle said the service supports the UAE’s role as a hub for regulated digital asset activity. The bank’s plan to expand later will depend on regulatory approvals and market demand in other regions.
