International Standard Chartered announced the launch of a service that allows institutional clients to issue and pay off USDC stablecoin in partnership with the Circle issuer. The Bank became the first global systemically important financial institution (G-SIB) to provide integrated access to transactions with the USDC through a single onboarding procedure. Customers will be able to work with a digital dollar without the need to open a separate account at Circle, which combines traditional banking infrastructure with public blockchain.

In the first stage, the service is available to qualified clients through the bank’s division at the Dubai International Financial Centre (DIFC). The solution focuses on institutional scenarios: Onetree payments, corporate treasury management, liquidity and future payment solutions based on stablecoins. Standard Chartered emphasized that the service is integrated into the bank’s ecosystem and complies with its risk management and compliance standards.

The bank believes that financial institutions and large corporations are increasingly seeking managed solutions for dealing with Stablecoins. CEO of Standard Chartered corporate banking, Roberto Hornveg, noted that institutional clients expect the same level of trust and control as in traditional markets. After receiving the necessary regulatory approvals, service plans to scale up to other jurisdictions as part of a global strategy for staple rail infrastructure development.