Circle, Standard Chartered Roll Out Institutional USDC Minting, Redemption Service

Circle, the issuer of dollar-backed stablecoin USDC, has launched an institutional service with Standard Chartered.

Circle said July 2 that the companies had introduced institutional USDC minting and redemption services through their partnership.

Under the arrangement, Standard Chartered becomes a bank offering institutions an integrated service for USDC minting and redemption. Clients can access Circle's USDC functions through Standard Chartered without opening a separate Circle account.

The service links fiat 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 service will be offered to eligible clients through Standard Chartered's Dubai International Financial Centre entity. Circle and Standard Chartered plan to expand the service to other countries depending on regulatory approvals and market readiness.

Kash Razzaghi, Circle's chief commercial officer, said financial institutions are looking for a reliable 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.