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Jeremy Allaire, co-founder, chief executive officer and chairman at Circle, reports that Standard Chartered has become the first globally systemically important bank (GSIB) to offer direct USDC liquidity as a bundled service to institutional clients.
According to Allaire, demand from major banks seeking to provide USDC is on the rise, paralleling the broader surge in onchain payments, treasury solutions, and tokenization.
In recent updates, Allaire highlighted BNY Mellon's new designation as a primary USDC liquidity and custody hub, furthering institutional adoption of the digital dollar. Separately, Amazon has moved to implement USDC-based payments for content owners receiving compensation for AI data usage. These developments reflect ongoing efforts by major institutions to integrate USDC into traditional finance and digital services.