ClearBank Wins MiCA Approval and Dutch CASP License for Stablecoin Services

According to ClearBank, it received a Dutch AFM crypto-asset service provider license and will add EURC and USDC services to support faster cross-border transfers and payments.

USDC

Summary

ClearBank said it received a Dutch AFM license to operate as a crypto-asset service provider and plans to add euro- and dollar-denominated stablecoin services. According to the bank, the offering will include EURC and USDC and is intended to support faster cross-border transfers and payments. Existing topic information also states that ClearBank received MiCA approval and that savings accounts offered through Coinbase will be covered by the UK’s FSCS.

Terms & Concepts
  • CASP license: Crypto-Asset Service Provider authorization that allows a firm to offer regulated digital asset services in approved jurisdictions.
  • Stablecoins: Cryptocurrencies designed to track the value of reference assets such as fiat currencies, often to support payments and transfers.
  • USDC: A U.S. dollar-pegged stablecoin designed to maintain a 1:1 value with the dollar for digital payments, transfers, and settlement.