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<p>Banking Circle has rolled out institutional stablecoin settlement services after securing regulatory approval in Luxembourg.</p>
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   <li>Banking Circle has launched regulated stablecoin settlement services after securing CASP approval in Luxembourg.</li>
   <li>The bank now supports USDC, USDG, and its own EURI for institutional fiat and crypto conversions.</li>
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<p>According to a Monday <a href="https://www.bankingcircle.com/banking-circle-introduces-stablecoin-settlement-services/" rel="noopener noreferrer nofollow">announcement</a> from the Luxembourg-based bank, the expansion follows its April 15 registration as a Crypto Asset Service Provider with the country’s financial regulator, enabling regulated conversion between fiat and stablecoins for institutional clients.</p>
<p>Support currently includes USDC issued by Circle, USDG from Paxos, and the bank’s own euro-pegged token EURI, extending capabilities first introduced with EURI in August 2024.</p>
<p>Serving more than 750 payment firms, financial institutions, and marketplaces, Banking Circle said its infrastructure processes over €1.5 trillion, or about $1.7 trillion, in annual transaction volume. Chief digital asset officer Kirit Bhatia stated in the release that stablecoins are “a natural extension” of the bank’s existing systems, adding that they play a key role in lowering costs and improving settlement efficiency.</p>
<h2 class="wp-block-heading" id="banking-circle-expands-foothold-as-euro-stablecoin-race-intensifies">Banking Circle expands foothold as euro stablecoin race intensifies</h2>
<p>Banking Circle’s earlier launch of EURI positioned it among the first banks to issue a euro stablecoin aligned with the European Union’s Markets in Crypto-Assets Regulation, with the CASP approval now allowing it to scale regulated services across clients.</p>
<p>You might also like: <a href="https://crypto.news/digital-asset-funds-draw-1-2-billion-as-bitcoin-leads-inflows-coinshares/" rel="noopener noreferrer nofollow"> Digital asset funds draw $1.2 billion as Bitcoin leads inflows: CoinShares </a></p>
<p>Competition across the region has accelerated as traditional banks and crypto firms build compliant payment rails under MiCA. French lender Société Générale, through its digital asset arm SG-FORGE, introduced the euro stablecoin EURCV in April 2023 on Ethereum and later expanded to additional networks as part of its multi-chain strategy.</p>
<p>On April 15, SG-FORGE integrated its dollar-denominated token USDCV into MetaMask, giving users access to a regulated stablecoin issued by a European bank.</p>
<p>Swiss-based <a href="https://crypto.news/crypto-market-crash-does-not-mean-cycle-is-over-sygnum/" rel="noopener noreferrer nofollow">Sygnum</a> added EURCV to its B2B platform in January 2025, targeting institutional clients and partner banks. In September 2025, a group of lenders, including ING, UniCredit, and CaixaBank, announced plans for Qivalis, a MiCA-compliant euro stablecoin scheduled for release in the second half of 2026.</p>
<p>The consortium has since expanded to 12 banks, adding BBVA, BNP Paribas, and DZ Bank, and partnered with Fireblocks to support custody and tokenization ahead of launch.</p>
<p>Crypto-native firms continue to build competing infrastructure. In April 2025, Circle introduced the <a href="https://crypto.news/circle-payments-network-launches-for-banks/" rel="noopener noreferrer nofollow">Circle Payments Network</a> to offer managed settlement services for banks and payment providers.&nbsp;</p>
<p>Separately, an April 21 <a href="https://crypto.news/nium-integrates-coinbase-to-enable-instant-usdc-payouts/" rel="noopener noreferrer nofollow">partnership</a> between Coinbase and global payments platform Nium enables businesses to fund cross-border transfers using USDC and settle in either fiat or stablecoins across more than 190 countries.</p>
<p>Read more: <a href="https://crypto.news/ripples-cto-flags-phishing-emails-targeting-robinhood-users/" rel="noopener noreferrer nofollow"> Ripple’s CTO&nbsp; flags phishing emails targeting Robinhood users </a></p>

Luxembourg-licensed Banking Circle expands into fiat-to-stablecoin settlement

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