ClearBank Europe plans to start offering stablecoins pegged to the euro and US dollar after saying it is the first Dutch credit institution authorized to offer crypto services under the European Union’s Market for Cryptoassets (MiCA) regulations.
The bank, which has more than 270 institutional customers, 1.7 million individual customers and more than $13 billion in assets under management, received approval from the Netherlands Authority for Financial Markets (AFM) to operate as a crypto asset service provider (CASP) after notifying regulators of its plans.
This approval allows ClearBank to begin rolling out its digital asset services without applying for a new license. Customers will be able to exchange between fiat currencies and stablecoins within a regulated banking environment. This setup links traditional payment systems and blockchain networks, reducing settlement times and improving cross-border remittances.
ClearBank will connect to Circle Internet’s (CRCL) Mint platform to enable institutional clients to access EURC and USDC, which track the euro and US dollar, respectively.
“Becoming a crypto asset service provider under MiCAR allows us to be the first to introduce digital asset capabilities into a regulated payments environment and puts us at the forefront of a new era of digital payments,” said Tristan Kirchner, CEO of ClearBank Europe.
The bank said the rollout marks the bank’s first step into digital payments in Europe. Clearbank also said the move forms part of a broader strategy to connect banking infrastructure to digital asset markets, including a separate initiative in the UK through a partnership with Coinbase (COIN).
In January, ClearBank selected digital asset infrastructure provider Taurus to help expand into stablecoin-related services, as the clearing bank prepared to expand its payments and digital asset offerings for customers across the UK and Europe. The move follows an earlier announcement to join the Circle Payment Network, which aims to enable near-instant global transfers of value using blockchain-based rails.
