Standard Chartered, Circle bring USDC minting onto banking rails
Standard Chartered and USDC issuer Circle have developed a system that lets institutional clients mint and redeem the USDC stablecoin through a bank-led onboarding process. Standard Chartered said Thursday it is the first Global Systemically Important Bank (G-SIB) to offer such services for USDC, bringing stablecoin access into the same risk, compliance and governance frameworks used in traditional banking. Clients will be able to mint and redeem the US dollar-backed stablecoin directly through StanCharts platform instead of opening separate accounts with Circle. “By embedding USDC access directly within Standard Chartereds institutional offering, Standard Chartered will bring together banking, custody, and digital asset services within one integrated offering,” the announcement said. The initial rollout will be through the Dubai International Financial Centre (DIFC). The collaboration comes as stablecoin infrastructure is increasingly integrated into traditional banking systems, as issuers and financial institutions compete to control how digital assets such as USDC are distributed and accessed.Source: Circle on X.com The capability supports institutional use cases such as onchain settlement, treasury, and liquidity management, while also providing the infrastructure to support payment-related use cases in the future. Initial rollout via Dubai International Financial Centre While the service is initially rolling out through Standard Chartereds operations in the DIFC, the bank