Standard Chartered offers major clients access to USDC minting

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Standard Chartered offers clients access to USDC

First major bank with such a service

The launch by Standard Chartered and Circle makes the bank the first global systemically important bank licensed to provide institutional clients with integrated access to USDC minting and redemption. Circle noted that clients will be able to use the service without holding direct accounts with the company.

The product is aimed at use cases such as onchain settlement, treasury operations and liquidity management. It also gives Standard Chartered a way to support stablecoin-based payment solutions in the future, as this infrastructure gradually becomes part of institutional clients’ workflows.

Roberto Hoornweg, head of Corporate and Investment Banking at Standard Chartered, said digital assets are becoming an increasingly important part of global financial infrastructure. According to him, clients want access to new tools with the same level of trust and corporate governance that exists in traditional markets.

Why Circle needs this initiative

Circle Chief Commercial Officer Kash Razzaghi said financial institutions need reliable access to stablecoins and blockchain-based markets. According to him, integrating Circle’s infrastructure into Standard Chartered’s platform will help organizations use USDC for payments, settlement and treasury operations.

The launch is part of a broader trend toward integrating USDC into banking services. Earlier, BNY gave clients the ability to mint and redeem USDC, allowing them to convert U.S. dollars into the stablecoin and back directly within its platform.

Circle is also expanding its institutional payment network. Earlier, the company launched Circle Payments Network for banks, giving banks and fintech companies a managed USDC settlement option without the need to manage custody systems or blockchain operations on their own.

Why Standard Chartered chose USDC

Standard Chartered’s choice of USDC looks logical because this stablecoin fits more naturally into the requirements of a regulated financial market. Circle has long focused on reserve transparency, cooperation with banks and compliance with supervisory requirements. For institutional clients, this is critical: they need not just a liquid dollar token, but an instrument that can be integrated into payments, settlement and treasury operations without unnecessary regulatory risks.

Europe became an additional argument. After MiCA came into force, the stablecoin market in the EU began to split into permitted and problematic assets. USDC is considered one of the more regulated dollar stablecoins, while USDT has faced restrictions on European platforms due to non-compliance with MiCA requirements.

As a reminder, Standard Chartered forecasts that the stablecoin market will reach $2 trillion by 2028.

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