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Draft:Banking Circle S.A.

From Wikipedia, the free encyclopedia
  • Comment: In accordance with the Wikimedia Foundation's Terms of Use, I disclose that I have been paid by my employer for my contributions to this article. CJRBC (talk) 10:07, 21 September 2026 (UTC)

Conflict of interest disclosure: I, CJRBC, have a conflict of interest because I am connected to Banking Circle. I am submitting this draft through Articles for Creation and request review by an independent Wikipedia editor.

Banking Circle S.A.
TypePrivate
IndustryBanking, financial services
Founded2013[1]
Headquarters
Luxembourg
,
Luxembourg
Area served
Europe, Asia-Pacific and North America[2][3][4]
Key peopleWolfgang Gaertner (Chairman); Morten Juhl Lilleøre (Interim CEO); Michael Hansen (CFO); Stéphanie Van Tieghem (Leading Risk, Compliance and People)[5]
ProductsMulti-currency accounts; domestic and cross-border payments; foreign exchange; access to clearing schemes; stablecoin settlement services[6][7]
OwnerFunds managed by EQT, alongside founders and minority co-investors[8][9]
Websitebankingcircle.com

Banking Circle S.A. is a Luxembourg-headquartered credit institution that provides payment, account and foreign exchange services to regulated financial institutions. It operates through entities in Europe, Asia-Pacific and North America.[2][3][4] Banking Circle is authorised as a credit institution by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg.[10]

History

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Banking Circle was founded in Denmark in 2013 within Saxo Bank under the name Saxo Payments.[1] In 2018, Saxo Payments was acquired from Saxo Bank by the private equity firm EQT, through funds EQT VIII and EQT Ventures, together with the company's founders and minority co-investors.[9] Following the acquisition, the business operated under the Banking Circle name.[9]

In February 2020, Banking Circle secured a credit institution licence from Luxembourg's financial regulator, the CSSF, and established its headquarters in Luxembourg.[11][12][13] The licence enabled the company to offer regulated banking services across the European Union under passporting arrangements.[14]

Banking Circle operates through entities in Europe.[2] Its Singapore subsidiary received a Major Payment Institution licence, supporting the company's Asia-Pacific operations.[3] In 2024, the Connecticut Department of Banking announced the launch of Banking Circle US, a Connecticut-chartered commercial bank.[4]

Operations and services

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Banking Circle offers multi-currency accounts, domestic and cross-border payments, foreign exchange services and access to local clearing schemes.[6] The company participates directly in payment schemes including the Single Euro Payments Area (SEPA), Faster Payments in the United Kingdom and the New Payments Platform (NPP) in Australia. It also provides indirect access for other regulated institutions.[15]

Banking Circle operates across multiple currencies and jurisdictions, serving clients that include payment service providers, banks, financial technology companies, investment funds, and marketplaces.[16]

Technology

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Banking Circle provides account, payment and liquidity-management services through a single platform comprising an application programming interface, a client portal and the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network, depending on client requirements.[17][18] The company connects to domestic and cross-border clearing and settlement systems, enabling direct and indirect access for regulated institutions.[15]

Stablecoin and digital assets

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In August 2024, Banking Circle launched EURI, a euro-pegged stablecoin issued as an e-money token under the Markets in Crypto-Assets Regulation (MiCA or MiCAR). Ledger Insights described EURI as the first MiCA-compliant euro stablecoin issued directly by a bank.[19]

On 15 April 2026, Banking Circle obtained authorisation from the CSSF as a Crypto-Asset Service Provider (CASP). On 27 April 2026, it introduced stablecoin settlement services for institutional clients involving USDC, USDG and EURI.[7][20]

Regulation and licensing

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Banking Circle is authorised as a credit institution by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg. Its regulatory information page lists registrations and links to relevant registers for the jurisdictions in which it operates.[21] The company is authorised as a credit institution and also holds e-money token (EMT) and Crypto-Asset Service Provider (CASP) authorisations in Luxembourg.[22]

Ownership

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Banking Circle is privately held. In 2018, funds managed by EQT acquired Saxo Payments Banking Circle from Saxo Bank alongside the company's founders and minority co-investors.[23][24]

Industry recognition

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In 2025, Euromoney named Banking Circle “The world's best challenger for cash management” in its Transaction Banking Awards.[25]

References

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  1. 1 2 "Saxo Bank Sells Payments Business to Swedish Private Equity Firm". Finance Magnates. 7 September 2018. Retrieved 17 September 2026.
  2. 1 2 3 "Banking Circle S.A." The European Banks. Retrieved 17 September 2026.
  3. 1 2 3 "Banking Circle's Singapore subsidiary receives Major Payment Institution licence". Fintech News Singapore. 2024. Retrieved 17 September 2026.
  4. 1 2 3 "Governor Lamont Welcomes Banking Circle US to Connecticut as the Fintech Company Opens Headquarters in Stamford". State of Connecticut Department of Banking. 12 March 2024. Retrieved 17 September 2026.
  5. ↑ "Management Body". Banking Circle. Retrieved 17 September 2026.
  6. 1 2 "Banking Circle: About Us". Banking Circle. Retrieved 17 September 2026.
  7. 1 2 "Banking Circle launches stablecoin settlement after CASP licence". The Paypers. 27 April 2026. Retrieved 17 September 2026.
  8. ↑ "EQT to take over Saxo Payments Banking Circle". Electronic Payments International. 9 July 2018. Retrieved 17 September 2026.
  9. 1 2 3 "EQT acquires B2B payment transfer business Banking Circle from Saxo Bank for $300m". TechCrunch. 9 July 2018. Retrieved 17 September 2026.
  10. ↑ "Banking Circle nabs first banking license from Luxembourg regulators". FinTech Futures. 27 February 2020. Retrieved 17 September 2026.
  11. ↑ "Who is financial infrastructure provider Banking Circle?". FinTech Magazine. 16 May 2020. Retrieved 17 September 2026.
  12. ↑ "Banking Circle Secures Banking Licence". Chronicle.lu. 27 February 2020. Retrieved 17 September 2026.
  13. ↑ "Banking Circle secures banking license". Finextra. 27 February 2020. Retrieved 17 September 2026.
  14. ↑ "EU Bank License to Boost Banking Circle Expansion". PYMNTS. 27 February 2020. Retrieved 17 September 2026.
  15. 1 2 "Banking Circle steps up to help smaller banks fast-track to EU SEPA instant compliance". Electronic Payments International. 14 May 2024. Retrieved 17 September 2026.
  16. ↑ "Banking Circle's CEO Bertelsen on how to rebuild banking infrastructure". Euromoney. 25 September 2025. Retrieved 17 September 2026.
  17. ↑ "Banking Circle: Taking On Global Payments' Interoperability Challenge". Forbes. 24 August 2022. Retrieved 17 September 2026.
  18. ↑ "Banking Services". Banking Circle. Retrieved 17 September 2026.
  19. ↑ "Banking Circle launches MiCAR compliant stablecoin". Ledger Insights. 26 August 2024. Retrieved 17 September 2026.
  20. ↑ "Banking Circle Unveils Stablecoin Settlement After Landing Crypto License". PYMNTS. 27 April 2026. Retrieved 17 September 2026.
  21. ↑ "Regulatory information, registrations and licence links". Banking Circle. Retrieved 17 September 2026.
  22. ↑ "Banking Circle first to hold banking, EMT and CASP licences in Luxembourg". Delano. 17 April 2026. Retrieved 17 September 2026.
  23. ↑ "EQT to take over Saxo Payments Banking Circle". Electronic Payments International. 9 July 2018. Retrieved 17 September 2026.
  24. ↑ "EQT acquires B2B payment transfer business Banking Circle from Saxo Bank for $300m". TechCrunch. 9 July 2018. Retrieved 17 September 2026.
  25. ↑ "The world's best challenger for cash management 2025: Banking Circle". Euromoney. 14 November 2025. Retrieved 17 September 2026.
[edit]

Category:Banks of Luxembourg Category:Financial services companies established in 2013 Category:Payment service providers Category:Financial technology companies




References

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