With this new licence in hand, the bank is launching a stablecoin settlement offering that allows its clients to instantly convert between fiat currencies and stablecoins, with full regulatory traceability. The global stablecoin market currently represents around €250 billion in market capitalization, driven by growing institutional demand.
Established in Luxembourg since 2017 and holding a banking licence since 2020, Banking Circle has become, with this CASP licence, the first institution in the Grand Duchy to hold a banking licence, an e-money token (EMT) issuer licence, and a crypto-asset service provider licence simultaneously.
