Banking Circle payments for payment companies
Banking Circle works behind other payment companies: they use it for accounts in several currencies and for access to clearing systems. It is a Luxembourg bank with a branch in Germany and, according to ESMA's register, one of the banks that issue e-money tokens under MiCA.
Accounts and clearing for payment firms
Banking Circle calls itself a "Next generation bank, powered by the latest technology" and a "Fully licensed bank with Central Bank Clearing Rails". It serves regulated businesses such as payment firms and marketplaces, and states that it processes more than 1.5 trillion euros a year (Banking Circle). It received its European banking license in Luxembourg in 2019 and set up a German branch in 2020; Munich is among its offices.
Clearing access for payment firms
Banking Circle names access to ten local clearing schemes and lists its memberships in the SEPA clearing scheme, the SEPA Direct Debit scheme and the SEPA Instant clearing scheme. A payment company without its own access to these schemes sends and receives euro payments, instant transfers included, through Banking Circle's memberships. The classic alternative is a chain of correspondent banks; correspondent banking explains it, and instant payments in Europe covers the rules that made instant transfers standard in the euro area.
EURI and tokenized deposits
ESMA's interim MiCA register lists Banking Circle S.A. in Luxembourg among the four credit institutions authorized to issue e-money tokens in Europe (ESMA), as What are stablecoin issuers? sets out. Its euro token EURI is among the euro stablecoins listed on European crypto exchanges. On its own site Banking Circle names tokenized deposits for global fund settlement on the blockchain as a field it works on. Euro stablecoins under MiCA compares the euro tokens by issuer and license.
Upcoming payments events in Europe
Payments & Digital Money
Risk & Compliance
Is Banking Circle a bank?
Yes. Banking Circle received a European banking license in Luxembourg in 2019. It serves payment companies and other banks.
Does Banking Circle have a branch in Germany?
Yes. Banking Circle set up a German branch in 2020, and Munich is among its offices.
What is EURI?
EURI is Banking Circle's euro token. Under MiCA it is an e-money token, and Banking Circle S.A. is among the credit institutions that ESMA's register lists as authorized issuers.
Clearing, instant payments and euro tokens
Banking Circle and Finance Loop
Finance Loop covers clearing and euro stablecoins in its Payments & Digital Money track. Banks and stablecoin issuers meet at Finance Loop events in Frankfurt and other German cities.
Finance Loop is a professional network and has the goal of driving the adoption of emerging technologies in finance, such as AI, digital payments, cloud and blockchain solutions. Finance Loop helps its members build skills and personal networks in these fields: Investment & Digital Assets, Payments & Digital Money, Digital Infrastructure & Sovereignty, and Risk & Compliance.