Banking Circle Launches Stablecoin Settlement Services After CASP License
Banking Circle launched stablecoin settlement services offering fiat-to-stablecoin and stablecoin-to-fiat conversion. The new capability enables instant settlement across both traditional banking and blockchain rails. The launch came shortly after Banking Circle secured a Crypto-Asset Service Provider (CASP) license, giving it the regulatory basis to offer crypto-asset services.
Banking Circle operates as a payments bank serving other financial institutions, including banks and payment service providers. The stablecoin settlement layer sits alongside its existing correspondent banking network. No financial terms of the service were disclosed.
The move reflects a broader push by payments infrastructure providers to integrate crypto rails into their platforms.
- Signals growing convergence of traditional payments infrastructure and blockchain settlement in BaaS
- Licensed stablecoin settlement by a payments bank may pressure other BaaS providers to integrate crypto rails