On July 2, Circle Internet Corp. rose 6.99% in regular trading, trading at $66.89/share, with turnover of approximately $180 million. The rally was driven by news that Standard Chartered Bank announced a partnership with Circle to launch institutional-grade USDC minting and redemption access capabilities.
Standard Chartered has become the first Global Systemically Important Bank (G-SIB) to offer such an integrated service. Eligible institutional clients can access USDC through a single onboarding process without needing to open a direct Circle account. The service will initially be available through Standard Chartered's operations in the Dubai International Financial Centre, supporting on-chain settlement, treasury management, and liquidity management use cases, with plans to expand to additional markets pending regulatory approval.
This partnership marks a deepening convergence of traditional banking infrastructure and digital asset ecosystems, and is expected to bolster Circle's competitive positioning and compliance profile in institutional markets. The move comes as Circle continues to recover from a 17.55% sell-off earlier in the week triggered by the announcement of Open USD, a competing stablecoin backed by over 140 institutions including Visa and Mastercard.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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