Banking Circle has received a banking licence from the regulator in Luxembourg.
In Brief:
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Banking Circle provides financial infrastructure.
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It enables FS firms to access real time payments without having to invest in their internal infrastructure.
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The company currently operates in the UK, Germany and Denmark so will now expand into France.
What does this?
CEO Anders la Cour said: “Securing our Banking Licence gives us the ability to deliver bank accounts on a global scale.” Last year, Banking Circle expanded to reach SMEs through a partnership with Cardstream, and it will now be able to help payments and banking businesses gain opportunities in new markets.
