Quick Breakdown
- ClearBank partners with Circle to advance stablecoin adoption and blockchain-based payments in Europe.
- The UK bank will join Circle Payments Network, enabling faster and cheaper cross-border transactions.
- The partnership builds on Circle’s growing European footprint, following its Deutsche Börse collaboration.
ClearBank joins forces with Circle for stablecoin expansion
UK-based cloud clearing bank ClearBank has announced a strategic partnership with Circle, the issuer of USD Coin (USDC), the world’s second-largest stablecoin. The collaboration seeks to strengthen access to stablecoins and accelerate digital finance innovation across Europe.
Under the agreement, ClearBank signed a strategic framework with a subsidiary of Circle Internet Group to jointly advance several stablecoin-related initiatives. These efforts will focus on expanding access to Circle’s USDC and EURC stablecoins via Circle Mint, a platform that allows verified financial institutions to issue and redeem tokens directly on blockchain networks.
Connecting traditional and digital finance
As part of the deal, ClearBank will become one of the first European banks to join the Circle Payments Network (CPN) — Circle’s proprietary system linking banks and payment providers to facilitate rapid, low-cost, and secure digital transactions.
Through this integration, ClearBank aims to leverage Circle’s infrastructure to enable faster, cheaper cross-border payments by merging its cloud-native banking platform with blockchain-based settlement solutions.
“Joining the Circle Payments Network marks a pivotal step in our evolution as a cross-border payments innovator,”
said Mark Fairless, CEO of ClearBank.
“Circle is redefining how money moves globally, and we’re proud to be part of that transformation.”
Building Europe’s stablecoin future
Circle, which became the first global stablecoin issuer to comply with the EU’s Markets in Crypto-Assets (MiCA) regulation in July 2024, continues to deepen its European presence. Beyond payments, the partnership with ClearBank also sets the stage for future initiatives, including stablecoin-powered treasury management and tokenized asset settlement solutions.
The collaboration follows Circle’s recent deal with Deutsche Börse, announced on September 30, which will see USDC and EURC listed and traded on the German exchange’s 3DX digital marketplace.
Meanwhile, Circle confirmed it has no immediate plans to launch a Hong Kong dollar-backed stablecoin (HKD stablecoin), despite growing regional interest following the city’s new stablecoin regulations.
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