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Standard Chartered is the first Global Systemically Important Bank authorized to let institutions mint and redeem Circle's USDC.
Standard Chartered and Circle launch bank-led USDC minting and redemption for institutions, starting in Dubai’s DIFC with planned global expansion.
The investment bank said new competition from the Stripe- and Coinbase-backed stablecoin consortium could pressure USDC's growth.
Bernstein said OUSD could become the strongest new challenger to the Circle-Tether duopoly, while flagging unresolved questions around governance, operations and revenue sharing.
BNY, the world's largest custodian bank, said it plans to add support for additional stablecoin via its Digital Asset Custody platform.
The move deepens BNY's partnership with Circle and builds on the bank's role as the primary custodian of USDC reserves.
The world's largest custody bank is adding USDC custody and minting services as stablecoins move deeper into traditional finance.
Meta’s decision to pay creators in USDC validates stablecoins as a mainstream disbursement tool, Joslyn suggests, but it also exposes the industry’s unresolved problem: moving seamlessly from digital dollars to usable local currency.
