Standard Chartered has opened a new service that lets its institutional clients mint and redeem USDC, the stablecoin issued by Circle Internet Group. The bank announced the launch in a press release from Dubai, marking a step into the digital asset infrastructure space.
Translate:Standard Chartered telah membuka perkhidmatan baharu yang membolehkan pelanggan institusinya mencetak dan menebus USDC, stablecoin yang diterbitkan oleh Circle Internet Group. Bank itu mengumumkan pelancaran tersebut dalam satu siaran akhbar dari Dubai, menandakan langkah ke dalam ruang infrastruktur aset digital.
Next paragraph:What the service offers
The capability allows institutional investors to convert between US dollars and USDC directly through Standard Chartered. This means clients can create new USDC tokens by depositing dollars, or redeem USDC for fiat currency, without going through multiple intermediaries. The service is built in partnership with Circle, the company behind the second-largest stablecoin by market capitalization.
Translate:Apa yang ditawarkan oleh perkhidmatan ini
Keupayaan ini membolehkan pelabur institusi menukar antara dolar AS dan USDC secara langsung melalui Standard Chartered. Ini bermakna pelanggan boleh mencipta token USDC baharu dengan mendepositkan dolar, atau menebus USDC untuk mata wang fiat, tanpa melalui pelbagai perantara. Perkhidmatan ini dibina dengan kerjasama Circle, syarikat di sebalik stablecoin kedua terbesar mengikut permodalan pasaran.
Next:Stablecoins like USDC are increasingly used for payments, trading, and as a bridge between traditional finance and blockchain-based systems. By offering minting and redemption directly, Standard Chartered gives its institutional clients a regulated on-ramp and off-ramp for digital dollars. This could reduce friction for large-scale users who need to move in and out of stablecoin positions quickly.
Translate:Stablecoin seperti USDC semakin digunakan untuk pembayaran, perdagangan, dan sebagai jambatan antara kewangan tradisional dan sistem berasaskan blockchain. Dengan menawarkan pencetakan dan penebusan secara langsung, Standard Chartered memberikan pelanggan institusinya laluan masuk dan keluar yang dikawal selia untuk dolar digital. Ini boleh mengurangkan geseran bagi pengguna berskala besar yang perlu bergerak masuk dan keluar dari kedudukan stablecoin dengan cepat.
Next:The move also signals that major banks are willing to engage with stablecoin infrastructure, even as regulators worldwide debate how to oversee the sector. Standard Chartered has been active in digital assets through its Zodia Custody and Zodia Markets subsidiaries, but this is a direct integration with a major stablecoin issuer.
Translate:Langkah ini juga menandakan bahawa bank-bank besar bersedia untuk melibatkan diri dengan infrastruktur stablecoin, walaupun pengawal selia di seluruh dunia masih berdebat tentang cara mengawasi sektor ini. Standard Chartered telah aktif dalam aset digital melalui anak syarikatnya Zodia Custody dan Zodia Markets, tetapi ini adalah integrasi langsung dengan penerbit stablecoin utama.
Next:The partnership with Circle
Circle, which issues USDC under the oversight of U.S. state regulators, provides the technology and compliance framework for the service. The partnership allows Standard Chartered to offer its clients access to USDC without building the underlying infrastructure from scratch. Circle has been expanding its network of banking partners globally, and this deal adds a major international bank to its roster.
Translate:Perkongsian dengan Circle
Circle, yang menerbitkan USDC di bawah pengawasan pengawal selia negeri AS, menyediakan teknologi dan rangka kerja pematuhan untuk perkhidmatan ini. Perkongsian ini membolehkan Standard Chartered menawarkan akses kepada USDC kepada pelanggannya tanpa perlu membina infrastruktur asas dari awal. Circle telah mengembangkan rangkaian rakan kongsi perbankannya secara global, dan perjanjian ini menambah sebuah bank antarabangsa utama ke dalam senarainya.
Next:What comes next
The service is now live for Standard Chartered's institutional clients. The bank has not disclosed which specific markets or client segments will have access first, nor has it said whether it plans to expand the offering to other stablecoins or retail customers. For now, the focus is on providing a direct channel for USDC minting and redemption within the bank's existing institutional framework.
Translate:Apa yang akan datang
Perkhidmatan ini kini tersedia untuk pelanggan institusi Standard Chartered. Bank itu tidak mendedahkan pasaran atau segmen pelanggan tertentu yang akan mendapat akses terlebih dahulu, dan juga tidak menyatakan sama ada ia merancang untuk mengembangkan tawaran kepada stablecoin lain atau pelanggan runcit. Buat masa ini, tumpuan adalah untuk menyediakan saluran langsung untuk pencetakan dan penebusan USDC dalam rangka kerja institusi sedia ada bank.
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