ClearBank is set to become one of the first banks in the European Union to join the Circle Payments Network (CPN), marking a significant step in its European expansion and cross-border payment capabilities. This move follows a strategic agreement between ClearBank and a subsidiary of Circle, the issuer of USDC and EURC stablecoins, to collaborate on initiatives across the European market.
The partnership will initially focus on expanding access to Circle's fully reserved, Markets in Crypto-Assets (MiCA)-compliant stablecoins, USDC and EURC, through Circle Mint in Europe. This positions ClearBank as an infrastructure provider for financial institutions and fintechs seeking compliant, multi-currency stablecoin solutions for payments, treasury, and liquidity operations. By integrating with Circle's infrastructure, including Circle Mint and CPN, ClearBank aims to connect its cloud-native banking platform with Circle's settlement network, supporting faster and lower-cost cross-border transactions.
Joining the Circle Payments Network will enable ClearBank's customers to conduct global fund transfers at near-instant speeds while ensuring regulatory transparency. The integration tackles common issues in cross-border finance, such as lengthy settlement times, exorbitant fees, and opaque liquidity pathways, aligning with European regulatory standards. ClearBank's collaboration with Circle will expand access to USDC and EURC, enabling faster settlement, greater transparency, and new financial services built on open, programmable money.
ClearBank secured a Dutch banking license in August 2024, a key milestone in its international growth plans, allowing it to provide clearing and embedded banking services across Europe. The company has invested over €70 million in its European operations following client demand for Euro settlement and accounts. ClearBank chose the Netherlands for its European headquarters due to its strong economy, robust regulatory regime, and thriving fintech ecosystem.
ClearBank's platform is accessed via a single API, underpinned by a scalable and flexible, real-time cloud-native platform. The platform was purpose-built from scratch, allowing for more efficient and cost-effective transactions, as well as being free of legacy issues associated with traditional banking infrastructure. ClearBank Europe N.V. will also offer multi-currency and FX services to its European clients and upgrade ClearBank UK's FX capabilities. The company will soon begin rolling out embedded banking services to European clients, with protected bank accounts and funds held under the Deposit Guarantee Scheme.
The collaboration could make routine financial operations, such as corporate payments or international remittances, faster and cheaper by reducing reliance on legacy banking rails. Both firms are also exploring further use cases such as stablecoin-based treasury solutions and tokenised asset settlement integrations to support the development of future financial services. ClearBank may serve asset managers and corporate treasury departments with a fiat-to-stablecoin bridge by utilizing Circle's Circle Mint technology. This partnership places ClearBank among the first European banks to fully employ blockchain technology for regulated stablecoin payments.
Mark Fairless, Chief Executive Officer at ClearBank, stated that joining Circle Payments Network will be a significant milestone in ClearBank's evolution as a cross-border payments innovator. Sanja Kon, Vice President of Partnerships & Business Development, EMEA at Circle, said that the collaboration will expand access to USDC and EURC, enabling faster settlement, greater transparency, and new financial services built on open, programmable money.
