Banking Circle first in Luxembourg to combine banking, EMT and CASP licences

Banking Circle has obtained a Crypto-Asset Service Provider (CASP) authorisation from Luxembourg's financial regulator, the CSSF, making it the first institution in the Grand Duchy to hold a banking licence, an electronic money token (EMT) licence and a CASP licence. The CASP approval takes effect on April 15. The company secured its Luxembourg banking licence in February 2020. In August 2024 it launched $EURI, a 1:1 euro-pegged stablecoin issued under its EMT licence. With the new CASP authorisation, Banking Circle can broaden its crypto-asset offering under the EU's MiCA framework, leveraging its existing payments and banking infrastructure. Under MiCA, Luxembourg now counts five active CASPs and two EMT issuers, but Banking Circle is the only player combining all three licences. Paperjam first reported the authorisation.