Standard Chartered has rolled out institutional USDC minting and redemption services through the Dubai International Financial Centre, giving its large-scale clients the ability to convert between dollars and stablecoins.
The move extends a relationship with Circle, the issuer of USDC, that has turned Standard Chartered into one of the most crypto-forward legacy banks on the planet. The bank already serves as a reserve bank for USDC’s cash holdings and advises on Circle’s payments network.
From custody license to full-stack stablecoin services
Standard Chartered secured a custody license in the DIFC back in September 2024, initially covering just Bitcoin and Ether.
By January 2026, the bank had expanded to offering USDC custody on permissionless chains. Institutional clients could hold and move USDC on public blockchains like Ethereum rather than being restricted to walled-garden environments.
