Standard Chartered Launches Direct USDC Minting and Redemption for Institutional Clients in Dubai

Standard Chartered has launched direct USDC minting and redemption for institutional clients in Dubai, allowing eligible clients to convert U.S. dollars into USDC within their existing banking relationship. According to NS3.AI, the move connects users to USDC, a stablecoin with a $73.2 billion market capitalization. The update follows a similar step by BNY, which enabled clients to mint, redeem, and hold USDC three days earlier. Standard Chartered said any expansion into additional markets will depend on regulatory approvals and market readiness.