Standard Chartered has launched a new service that gives institutional clients direct access to USDC minting and redemption through a partnership with Circle, becoming the first Global Systemically Important Bank (G-SIB) to offer the capability through a single banking relationship.
The bank said eligible institutional clients will be able to mint and redeem USDC without opening separate accounts with Circle. The service combines fiat banking, digital asset infrastructure, and public blockchain access under one platform, supporting activities such as on-chain settlement, treasury management, and liquidity management. The offering is initially available through Standard Chartered’s operations in the Dubai International Financial Centre (DIFC), with plans to expand to other markets subject to regulatory approval.
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
Standard Chartered said the new capability is designed for institutions looking for regulated access to stablecoins while maintaining the compliance, governance, and risk management standards expected from a global bank.
UAE launch marks first phase of global rollout
The bank said demand from financial institutions for regulated stablecoin services continues to grow as more companies use blockchain for payments and treasury operations.
By adding USDC into its existing banking services, Standard Chartered allows clients to move between traditional banking and blockchain-based transactions without relying on separate providers. Circle said the partnership will help institutions use USDC for payments, settlement, treasury operations, and participation in digital asset markets while operating within established regulatory frameworks.
The UAE launch represents the first stage of Standard Chartered’s broader stablecoin strategy, with additional markets expected to follow once regulatory conditions allow.
Why banks want to own the stablecoin relationship
For years, institutions that wanted regulated stablecoins often had to work directly with issuers while keeping their banking relationships separate. Banks increasingly want to keep those services under one roof, allowing clients to manage cash, custody, foreign exchange, and stablecoins through a single banking relationship.
Instead of competing over who issues the biggest stablecoin, banks are beginning to compete over who provides the simplest access to them. Standard Chartered’s launch suggests that convenience, compliance, and client relationships may become just as important as the stablecoins themselves.
In another development, Circle minted another 1 billion USDC on the Solana blockchain, bringing its total issuance on the network to 3.5 billion USDC.
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