Standard Chartered Becomes First Global Bank to Offer Direct USDC Access to Institutions

A notable development has hit the crypto markets. In brief Standard Chartered has become the first Global Systemically Important Bank (G-SIB) to offer institutional clients direct access to mint and redeem USDC. The service, launching first through the bank's Dubai (DIFC) operations, targets uses like on-chain settlement, treasury, and liquidity management, with payment features planned later.

The launch is the first phase of a broader global stablecoin strategy, with Standard Chartered planning to expand to other markets pending regulatory approval.

Crypto markets are watching this development closely as investors weigh its potential impact on prices.