Circle, the firm behind the USDC
Under a newly signed agreement with a subsidiary of Circle Internet Group, ClearBank will take part in several projects focused on stablecoins.
These digital currencies are pegged to traditional currencies like the US dollar or euro and are used to make payments faster and more reliable.
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One major goal of this partnership is to give financial institutions better access to USDC and EURC, Circle’s euro-backed stablecoin. This will happen through Circle Mint, a service that lets approved partners issue and redeem these tokens directly on the blockchain.
ClearBank also plans to join the Circle Payments Network (CPN), a system that connects financial institutions and helps them make payments using stablecoins. By linking its banking platform to CPN and Circle Mint, ClearBank hopes to make international payments faster and cheaper.
This effort aligns with the European Union’s Markets in Crypto-Assets Regulation (MiCA), which sets out how regulated companies should handle digital assets.
The agreement also opens the door to future developments, such as using stablecoins for treasury operations or settling digital assets.
Mark Fairless, CEO of ClearBank, described joining the Circle Payments Network as an important step in the bank’s strategy to improve cross-border payments.
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