Banking Circle unveils regulated stablecoin settlement

Banking Circle launches regulated stablecoin settlement services, supporting USDC, USDG, and EURI. The service enables instant fiat-stablecoin conversion for institutions, boosting efficiency and compliance.

Banking Circle, a Luxembourg-based financial institution, has launched regulated stablecoin settlement services after being approved as a Crypto Asset Service Provider (CASP) by Luxembourg’s financial regulator on April 15. This new offering enables institutional clients to seamlessly convert between fiat currencies and stablecoins, supporting USDC, USDG, and Banking Circle’s own euro-backed token, EURI. Building on the earlier launch of EURI in August 2024, this move positions Banking Circle as a key player in Europe’s digital payments sector. The service operates on the bank’s core platform, allowing clients to use a single integrated system for instant settlements, which reduces both time and operational complexity. With over 750 financial institutions, payment companies, and marketplaces connected to its infrastructure, Banking Circle processes more than €1.5 trillion annually. The stablecoin settlement service aims to enhance cross-border transaction efficiency, lower costs, and provide 24/7 transaction capabilities within a regulated, MiCA-compliant framework.