Banking Circle has received a banking licence from the regulator in Luxembourg.
Banking Circle provides financial infrastructure.
It enables FS firms to access real time payments without having to invest in their internal infrastructure.
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.