ClearBank, a crypto-friendly neobank and regulated provider of Faster Payments in the U.K., plans to join the Circle Payments Network (CPN), linking its cloud-native banking platform to Circle’s blockchain-based infrastructure to speed up cross-border payments and offer access to regulated stablecoins.
The move follows a new strategic agreement between the U.K.-founded clearing bank and Circle Internet Group, the company behind the USDC and EURC stablecoins. ClearBank will become one of the first European banks to integrate with CPN, allowing clients to transfer funds globally at near-instant speed while maintaining regulatory transparency, according to a press release.
It’s an interesting move because ClearBank was reportedly looking to bring its own stablecoin to the table. However, reading between the lines, dealing with the likes of the Bank of England has not been an easy lift.
There’s lots happening when it comes to the stablecoins for payments use case. Since Circle launched its CPN back in April of this year, the firm’s main revenue sharing partner, Coinbase, has joined the party with a stablecoin-driven payments offering
The ClearBank collaboration centers on expanding access to Circle Mint, a platform that enables financial institutions to mint and redeem USDC and EURC. Both tokens are fully reserved and designed to comply with Europe’s new Markets in Crypto-Assets (MiCA) regulation.
ClearBank said it will also explore new use cases with Circle, including stablecoin-based treasury services and tokenized asset settlements. These developments could make routine financial operations—such as corporate payments or international remittances—faster and cheaper by reducing reliance on legacy banking rails.
Mark Fairless, ClearBank’s CEO, called the partnership a “milestone” in the company’s efforts to modernize cross-border finance, while Circle’s VP for EMEA partnerships, Sanja Kon, said the collaboration will expand access to “open, programmable money” in Europe’s financial system.