TLDR
- ClearBank, a UK-based clearing bank, has partnered with Circle to become one of the first European banks to join the Circle Payments Network
- The partnership enables ClearBank to mint and redeem USDC and EURC stablecoins through Circle Mint
- Both USDC and EURC comply with the EU’s Markets in Crypto-Assets Regulation (MiCA), which entered full force in late 2024
- The collaboration aims to provide faster and cheaper cross-border payments by connecting traditional banking with blockchain-based settlement
- ClearBank plans to explore stablecoin-based treasury solutions and tokenized asset settlement integrations as part of the agreement
ClearBank has signed a strategic framework agreement with Circle Internet Group to expand access to USDC and EURC stablecoins in Europe. The UK-based clearing bank will become one of the first European banks to integrate with the Circle Payments Network.
The partnership centers on Circle Mint, a platform that allows authorized financial institutions to create and redeem stablecoins directly on the blockchain. ClearBank will use this service to mint and redeem both USDC and EURC tokens.
USDC is the second-largest stablecoin by market capitalization. EURC is Circle’s euro-denominated stablecoin designed for European markets.
Circle became the first global stablecoin issuer to comply with MiCA rules in July 2024. MiCA, the EU’s Markets in Crypto-Assets Regulation, entered into full force in late 2024.
Both USDC and EURC are fully reserved and designed to meet MiCA compliance requirements. This makes them available for use by regulated financial institutions operating in Europe.
The Circle Payments Network connects financial institutions and uses stablecoins to facilitate transactions. The network launched in April 2025 and aims to enable near-instant money movement globally.
Integration Details
ClearBank operates a cloud-native banking platform that provides clearing services in the UK. The bank is a regulated provider of Faster Payments services.
By joining the Circle Payments Network, ClearBank will connect its traditional banking infrastructure to Circle’s blockchain-based settlement network. This integration is designed to speed up cross-border payments.
ClearBank CEO Mark Fairless called joining the network a milestone in the company’s evolution as a cross-border payments innovator. He said Circle is redefining how money moves globally.
Additional Use Cases
The partnership agreement includes plans for additional strategic initiatives beyond basic stablecoin minting and redemption. ClearBank will explore stablecoin-based treasury solutions with Circle.
The two companies also plan to work on tokenized asset settlement integrations. These services could make corporate payments and international remittances faster and cheaper.
Sanja Kon, Circle’s VP for EMEA partnerships, said the collaboration will expand access to open and programmable money in Europe’s financial system. The partnership aims to reduce reliance on legacy banking systems.
ClearBank was previously reported to be developing its own stablecoin product. The bank has now chosen to partner with Circle instead.
Circle has been expanding its presence in European markets through multiple partnerships. The company partnered with Deutsche Bƶrse in September 2024 to list USDC and EURC on the 3DX exchange.
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