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ClearBank Europe has become the first Dutch credit institution to complete a notification under the EU Markets in Crypto-Assets Regulation (MiCAR), receiving confirmation from the Dutch Authority for the Financial Markets (AFM) to operate as a Crypto Asset Service Provider (CASP).
The regulatory confirmation enables the bank to begin offering digital asset services and marks its entry into digital currency infrastructure as part of its broader digital assets strategy.
As a CASP, ClearBank Europe will roll out Circle's Mint platform and provide clients with access to stablecoins including Euro Coin (EURC) and USD Coin (USDC), stable digital currencies pegged to the Euro and the US Dollar respectively.
The move will enable clients in Europe to convert between traditional fiat currencies and digital assets within a regulated banking environment. ClearBank Europe says the direct link between traditional payment systems and blockchain-based networks will support faster and more efficient cross-border transactions and settlement across Europe.
Tristan Kirchner, Chief Executive Officer, ClearBank Europe
Tristan Kirchner, Chief Executive Officer, ClearBank Europe said:
"Becoming a crypto-asset service provider under MiCAR, enables us to bring digital asset capabilities into a regulated clearing environment for the first time, putting us at the forefront of this new era of digital clearing. This is a significant step forward for both ClearBank Europe and our clients, as digital assets become an increasingly important layer of payments infrastructure. By providing access to stablecoins such as EURC and USDC, we are enabling new ways to move money across borders with greater speed, reduced cost and increased efficiency. As digital assets become more embedded in financial infrastructure, we are excited to play a leading role in that transition as we continue to innovate to meet evolving client needs."
In the UK market, ClearBank has separately announced a deepened partnership with Coinbase to support a savings account offering made available through a digital assets exchange, with eligible customer cash benefiting from Financial Services Compensation Scheme (FSCS) protection.
ClearBank Europe says the European launch represents the bank's first major step in delivering digital clearing capabilities as part of its wider digital assets strategy across the group, with different markets progressing in line with local regulatory frameworks.
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