Standard Chartered, Circle Launch Bank-Led USDC Minting For Institutions

Standard Chartered and Circle have introduced a system allowing institutional clients to mint and redeem USDC directly through the bank, without opening separate accounts with Circle. Standard Chartered said it is the first Global Systemically Important Bank to offer this service, bringing stablecoin access under standard banking risk, compliance and governance controls.

Dubai Launch With Global Expansion Planned

The service will initially roll out through Standard Chartered’s operations in the Dubai International Financial Centre, with plans to expand into other markets depending on regulatory approval and client demand. The bank said the offering combines banking, custody and digital asset services into a single platform, supporting use cases such as on-chain settlement, treasury management and liquidity operations.

Bank Aims To Bring Traditional Standards To Crypto

Roberto Hoornweg, CEO of corporate and investment banking at Standard Chartered, said the goal is to support institutional participation in digital assets through established banking frameworks and regulatory oversight.

Comes Amid Growing Stablecoin Competition

The announcement follows comments from Circle CEO Jeremy Allaire defending USDC’s position against new entrants like Open USD. Allaire said Circle continues working closely with OUSD’s founding members and expects many to remain USDC partners despite the new competition.