ClearBank has obtained a Dutch banking license, which will facilitate its expansion into Europe in order to satisfy the increasing demand for Euro accounts and settlement. This European launch is a significant milestone in ClearBank's international development strategy, as the company endeavors to expand its real-time clearing and embedded banking services to both UK and European institutions.
ClearBank differentiates itself from legacy European providers by providing services through a single API. The company is recognized for its cloud-native platform and next-generation technology. This innovative approach, in conjunction with completely licensed banking services, is enticing both new and existing clients. The company intends to demonstrate its dedication to the region by investing more than $70 million in its European operations.
ClearBank will provide Euro accounts and payment services in addition to its current Sterling services with the issuance of the new banking license. The company also plans to implement embedded banking services throughout Europe, offering clients protected bank accounts and funds that are safeguarded under the Deposit Guarantee Scheme.
Established in 2015, ClearBank has emerged as a pioneer in embedded banking and agency banking, providing services to prominent clients including TrueLayer, Tide, and Coinbase. At the same time, the expansion will enable ClearBank to expand into new markets and provide its UK clients with the same level of technology and security as in Europe.
