Luxembourg-based Banking Circle launched stablecoin payment services after receiving a Crypto Asset Service Provider (CASP) license from the Luxembourg Financial Regulatory Authority on April 15, expanding to regulated fiat-to-stablecoin payments and stablecoin-to-fiat payments for institutional clients.
The rollout includes support for Circle. $USDCPaxos’ USDG and Banking Circle’s own Euro stablecoin. $RAINexpanding the bank’s digital asset payment capabilities beyond its initial capabilities. $RAIN Scheduled to be released in August 2024.
The bank said in an announcement Monday that it serves more than 750 payment companies, financial institutions and markets that move and exchange more than 1.5 trillion euros (about $1.7 trillion) annually across its infrastructure. Kirit Bhatia, chief digital asset officer, said in a release that stablecoins are a “natural extension” of the bank’s infrastructure and are central to reducing costs and increasing efficiency.
The move comes as the European market for regulated stablecoin issuance and payments continues to grow, with banks, fintechs and crypto-native companies racing to build a compliant digital asset payment infrastructure under the European Union’s Crypto Asset Market Regulation (MiCA) framework.
Cointelegraph reached out to Banking Circle for comment, but did not receive a response in time for publication.
Banking world steps up efforts on crowded Euro stablecoins
Banking Circle launched in August 2024 $RAINexplains that this is a bank-issued MiCA-compliant Euro stablecoin, giving it an early foothold before securing CASP authorization in Europe.
Banking Circle launches stablecoin payment service. sauce: banking circle
The euro stablecoin market is becoming increasingly crowded. French bank Société Générale’s SG-FORGE launches Euro stablecoin $EURCV It was introduced on Ethereum in April 2023 and later expanded to additional blockchain networks as part of a broader multi-chain strategy.
On April 15th, SG-FORGE integrated the MiCA-compliant dollar stablecoin USDCV into MetaMask, giving the wallet’s millions of users access to regulated dollar tokens issued by major European banks.
Swiss Bank Signum added $EURCV It was introduced on B2B platforms in January 2025 to serve institutional customers and partner banks, and in September 2025, a consortium of European banks including ING, UniCredit and CaixaBank announced Qivalis, a MiCA-compliant Euro stablecoin scheduled for launch in the second half of 2026.
The consortium has since expanded to 12 banks, including BBVA, BNP Paribas, and DZ Bank, and partnered with Fireblocks to provide storage and tokenization infrastructure for MiCA-compliant stablecoins ahead of launch.
Crypto-native infrastructure companies also compete in the same segment. Publisher’s circle $USDCannounced Circle Payments Network in April 2025 as a managed payments service for banks and payment service providers. Meanwhile, Coinbase’s April 21 partnership with global payments platform Nium will allow businesses to fund cross-border remittances. $USDC and settle on either $USDC or fiat currencies across a network spanning over 190 countries.
magazine: AI-driven hacking could devastate DeFi – unless projects act now
