Netherlands based ClearBank has been approved under Markets in Crypto Assets (MiCA) regulation. The company announced that it had received approval from the Dutch Authority for the Financial Markets (AFM) to operate as a Crypto Asset Service Provider (CASP). The bank stated that it will begin offering digital asset services as part of its broader Fintech strategy.
ClearBank noted that it would offer stablecoins both for digital Euros and US dollars (EURC and USDC).
The company said the addition of stablecoin services will enable faster and more efficient cross border transfers and payments.
At the same time, ClearBank said its existing partnership with Coinbase (NASDAQ:COIN) will increase. This includes the ability to offer savings accounts via Coinbase which will be covered by FSCS.
Tristan Kirchner, CEO of ClearBank Europe, said they are bringing regulated digital asset capabilities for the first time, describing the move as a “significant step forward for the company as well as their clients.
“As digital assets become more embedded in financial infrastructure, we are excited to play a leading role in that transition as we continue to innovate to meet evolving client needs,” said Kirchner.
ClearBank Limited is authorized by the UK Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. ClearBank Europe N.V. is authorized by the European Central Bank (ECB) and supervised by the De Nederlandsche Bank (DNB)