Standard Chartered has announced the launch of the first integrated service for issuing and redeeming the USDC digital currency, in cooperation with Circle, the issuer of the currency and a company listed on the New York Stock Exchange.

The service will initially be offered through the bank’s operations at the Dubai International Financial Centre, where it will be available to eligible corporate and institutional clients. The move further strengthens the UAE’s position as a leading global center for regulated activity in the digital assets sector.

The launch also represents the first step in Standard Chartered’s broader global strategy in the field of stablecoins. The bank plans to expand the service to additional markets at a later stage, subject to regulatory approvals and market readiness.

With this move, Standard Chartered becomes the first global systemically important bank to provide integrated access to USDC issuance and redemption services through a unified onboarding and service experience, without requiring clients to open direct accounts with Circle.

The service gives institutions greater ability to move value between traditional financial systems and digital ecosystems in a faster and more transparent way. This is achieved by connecting conventional banking services with digital asset infrastructure and public blockchain networks.

It also supports a range of institutional use cases, including settlement on blockchain networks, treasury management and liquidity management, while providing a foundation that can help support payment solutions in the future.

By integrating access to USDC directly into its institutional platform, Standard Chartered brings together banking services, asset custody and digital asset services within a single offering, while maintaining the governance, compliance and risk management standards expected from leading global financial institutions.

The announcement comes at a time when demand for regulated stablecoin infrastructure is growing among financial institutions and companies, especially as the use of these currencies expands across payments, settlements, treasury operations, liquidity management and participation in digital asset markets.

Roberto Hoornweg, Chief Executive Officer of Corporate and Investment Banking at Standard Chartered, said digital assets are becoming an increasingly important part of global financial infrastructure. He noted that the significance of this step lies in enabling broader institutional participation in digital asset markets within regulatory frameworks and controls that help build trust.

Kash Razzaghi, Chief Business Officer at Circle, said the partnership helps institutions benefit from new opportunities to use USDC in payments, settlements and treasury operations. This is done by integrating regulated stablecoin infrastructure into Standard Chartered’s global banking platform, while maintaining compliance, governance and risk management requirements.

The launch of this service from the UAE confirms the country’s continuing development in the digital assets sector, particularly as global institutions increasingly choose clear regulatory environments to introduce new digital financial solutions.