Standard Chartered is now offering institutional clients direct minting and redemption of the USDC stablecoin through its Dubai International Financial Centre hub. The service allows large-scale conversion between US dollars and USDC.
This expansion deepens the bank's partnership with USDC issuer, Circle. Standard Chartered already acts as a reserve bank for USDC's cash holdings and advises on Circle's payments network. Its linked trading platform, Zodia Markets, processed $4 billion in net USDC minting volume in 2024.
The DIFC jurisdiction is strategic. Its separate regulatory framework provides the legal and compliance structure preferred by institutional players over fragmented global crypto rules.
Standard Chartered's public projection puts the total stablecoin market cap at $2 trillion by 2028. This new service lowers operational barriers for hedge funds and corporate treasuries to enter and exit crypto positions through a familiar banking partner.