Standard Chartered and Circle have launched bank-led USDC minting and redemption services for institutions in Dubai’s DIFC. The companies plan to expand the offering globally.
Standard Chartered and Circle have launched bank-led USDC minting and redemption services for institutions in Dubai’s DIFC. The companies plan to expand the offering globally.
Dubai’s DIFC will serve as the initial location for the service. Standard Chartered and Circle intend to extend the model to additional markets, though no expansion schedule or further locations were specified.
Standard Chartered and Circle have launched a bank-led service that allows institutions to mint and redeem USDC through banking rails. The offering is starting in the Dubai International Financial Centre, with global expansion planned.
The development gives institutional clients a bank-based route for moving between traditional financial infrastructure and USDC. It also brings a major banking group directly into the stablecoin minting and redemption process.
Circle issues USDC, while Standard Chartered will provide the banking channel for eligible institutional activity. The arrangement is focused on institutional users rather than retail customers.
Dubai’s DIFC will serve as the initial location for the service. Standard Chartered and Circle intend to extend the model to additional markets, though no expansion schedule or further locations were specified.
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