Banking Circle Becomes First In Luxembourg To Hold Banking, Emt And Casp Licenses

Banking Circle has secured a Crypto-Asset Service Provider (CASP) license from Luxembourg's CSSF, becoming the first institution in the Grand Duchy to hold all three of a banking license, an electronic money token (EMT) license, and a CASP license. The CASP authorization takes effect on April 15.

Banking Circle first picked up its Luxembourg banking license in February 2020, then launched $EURI in August 2024, a 1:1 euro-pegged stablecoin issued under its EMT license. The new CASP license lets it expand into a wider range of crypto-asset services under the EU's MiCA framework, building on its existing payments and banking infrastructure rather than entering digital assets from the outside.

Luxembourg now has five active CASPs and two EMT issuers under MiCA, but Banking Circle stands out for combining the trio. Paperjam first reported on the license.