Standard Chartered has announced the launch of its institutional USDC issuance and redemption mechanism, developed in collaboration with Circle, the issuer of USDC, through its regulated entities.
This launch makes Standard Chartered the first global systemically important bank licensed to provide fully integrated access to USDC issuance and redemption services, through a unified onboarding and service experience, without the need to open direct accounts with Circle.
The service provides institutions with the ability to seamlessly transfer value between traditional and digital financial ecosystems with greater speed and transparency, by connecting traditional banking services with digital asset infrastructure and public blockchain networks within an integrated solution led by a global financial institution. It also supports a wide range of institutional use cases, including settlement on blockchain networks, treasury management, and liquidity management, as well as providing the infrastructure needed to support future payments.
By integrating USDC access services directly within the bank's institutional platform, Standard Chartered will combine banking, custody, and digital asset services into a single integrated offering, delivered in accordance with the highest standards of risk management, compliance, and governance that distinguish leading international financial institutions.
In its first phase, the service will be available to eligible corporate and institutional clients through Standard Chartered's operations in the Dubai International Financial Centre, reinforcing the UAE's leadership position as a global hub for regulated digital asset activities. This represents the first phase of Standard Chartered's broader global stablecoin strategy, with the bank intending to expand the service to additional markets subject to regulatory approvals and market readiness.
This announcement reflects growing demand from financial institutions and corporates for stablecoin infrastructure that operates within regulatory frameworks and enables them to use stablecoins across a wide range of financial activities, including payments, treasury management, settlement, liquidity management, and participation in digital asset markets.
Roberto Hoornweg, Chief Executive of Corporate and Investment Banking at Standard Chartered, said: