Summary
- Circle said it has launched institutional USDC minting and redemption services in partnership with Standard Chartered.
- Standard Chartered will provide institutions with integrated USDC minting and redemption services, allowing clients to use those functions without opening a separate Circle account.
- Circle and Standard Chartered said they will begin with eligible clients at the Dubai International Financial Centre and later seek to expand the service to other countries depending on regulatory approvals and market readiness.
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Circle, issuer of the USDC dollar stablecoin, has launched an institutional service with Standard Chartered.
The company announced on July 2 that it had introduced institutional USDC minting and redemption services through the partnership.
Under the arrangement, Standard Chartered becomes a bank offering institutions an integrated USDC minting and redemption service. Clients can use Circle's USDC functions through Standard Chartered without opening a separate Circle account.
The service links fiat-based banking services, digital-asset infrastructure and public blockchain networks in a single solution. Institutions can use USDC for on-chain payments, treasury management and liquidity management.
The initial offering will be available to eligible clients through Standard Chartered's Dubai International Financial Centre entity. Circle and Standard Chartered plan to expand the service to other countries, subject to regulatory approvals and market readiness.
Kash Razzaghi, Circle's chief commercial officer, said financial institutions are seeking a trusted way to access stablecoins and participate in blockchain-based financial markets. The integration will give institutions more opportunities to use USDC across payments, settlement and treasury operations.
