Standard Chartered Becomes First GSIB to Offer USDC Minting and Redemption

Standard Chartered has partnered with Circle Internet Group, Inc. (NYSE: CRCL) to offer institutional clients direct USDC minting and redemption, becoming the first Global Systemically Important Bank (GSIB) to roll out an integrated service of its kind. The offering will be launched through the bank's Dubai International Financial Centre (DIFC) operations. Eligible clients will be able to access USDC through a single Standard Chartered onboarding process, removing the need to open and maintain separate Circle accounts. Circle will provide the infrastructure as the regulated issuer of USDC via its licensed entities. The collaboration also extends ongoing joint work on initiatives such as the Circle Payments Network (CPN), where Standard Chartered contributes expertise in cross-border efficiency, security and compliance. Roberto Hoornweg, CEO of Standard Chartered's Corporate and Investment Banking division, said institutional clients expect digital-asset services to meet the same standards of trust and governance found in traditional markets, adding that the launch brings those standards to a developing segment of the financial system. The bank said the integration is designed to streamline liquidity management, cross-border payments, treasury workflows and on-chain settlement for institutional users. The rollout could add momentum to stablecoin adoption across global banking, with the DIFC launch positioned as a model for regulated blockchain payment rails, faster settlement and improved efficiency in cross-border transactions. The bank also pointed to expanding regulatory clarity as a factor supporting broader participation by banks. Standard Chartered has previously forecast the stablecoin market could reach $2T by 2028. Separately, Mordor Intelligence projects the market could grow to $1.16T by 2031. The bank noted that challenges such as financial-stability considerations and deposit disintermediation remain, while suggesting that institutions adopting regulated stablecoins like USDC may gain an edge in digital finance. Disclaimer: This content is for informational and educational purposes only and does not constitute financial advice. Readers should conduct their own due diligence before taking any action.