Banking Circle has announced the launch of its stablecoin settlement services after successfully receiving a Crypto Asset Service Provider (CASP) licence from Luxembourg’s financial regulator. The new offering will expand into providing fiat-to-stablecoin and stablecoin-to-fiat settlements for institutional investors. The solution fixes long-standing problems with traditional global settlement rails by combining the 24/7 availability of blockchain-based payments with the compliance, security, and risk management standards of a regulated bank. The rollout adds support for Circle’s USDC, Paxos’ USDG, and Banking Circle’s own euro stablecoin EURI, which makes the bank’s digital asset settlement capabilities even better.
New Service Enables Real-Time Settlement Across Fiat, Digital Assets
In the announcement, the bank stated that it serves more than 750 payment companies, financial institutions, and marketplaces that move and convert over $1.7 trillion (roughly Rs. 1,60,14,000 crore) in over a year, across its infrastructure. Kirit Bhatia, the Chief Digital Asset Officer of Banking Circle, said that stablecoins are a natural extension of the bank’s infrastructure and are essential in reducing costs and improving efficiencies. Investors can easily switch between fiat currencies and popular stablecoins like USDC, USDG, and EURI thanks to direct integration with Banking Circle’s core platform. This happens instantly and is fully traceable by regulators.
The euro stablecoin market has seen gradual growth in participants in the past couple of years. The French bank Société Générale’s SG-FORGE started its euro stablecoin EURCV on Ethereum in April 2023. While the Swiss bank Sygnum also added EURCV to its B2B platform in January 2025, intending to serve institutional clients and partner banks.
In a statement, Laust Bertelsen, CEO of Banking Circle, highlighted the importance of achieving the CASP licence and said that it is an important milestone for Banking Circle as well as for the broader payments ecosystem. He further added, “Stablecoins have fast evolved from a peripheral innovation into core infrastructure for cross-border settlement, treasury management, and financial inclusion. We are proud to be at the forefront of bringing these capabilities to market within a robust regulatory framework.”
Overall, stablecoin settlement services will increasingly become crucial for banks in the future, as a report by the blockchain analysis firm, Chainalysis, says that stablecoin transactions are estimated to cross $1.5 quadrillion (roughly Rs. 1,39,50,00,000 crore) within the next decade, potentially exceeding current estimates of global cross-border payments volumes. This figure is expected to double by 2035 if certain criteria are met, which include the condition that the baby boom generation should transfer $100 trillion (roughly Rs. 9,30,00,000 crore) in wealth to the younger generations, which includes millennials and Gen Z.
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