Key Insights
- •Circle stock climbed nearly 3% on Monday, extending the weekly run to 15%.
- •ClearBank has partnered with Circle Internet to offer clients in Europe access to stablecoin payments using USDC and EURC.
- •ClearBank will join the Circle Payments Network (CPN) for instant cross-border transfers.
ClearBank Partners with Circle Internet
ClearBank has announced a partnership with Circle Internet to gain access to stablecoin payments using USDC and EURC across Europe. As a result, Circle (CRCL) stock climbed nearly 3% on Monday, extending the weekly rally to over 15%.
ClearBank has signed a strategic framework agreement with Circle Internet Group’s subsidiary to collaborate on multiple initiatives in the European market.
The technology-enabled clearing bank will initially focus on growing access to USDC and EURC stablecoins via Circle Mint.
This enables the clearing bank to become a key infrastructure provider for TradFi seeking compliant and multi-currency stablecoin solutions for payments, treasury, and liquidity use cases.
Being a fully regulated bank in both the United Kingdom and the European Union enables it to hold funds at the Bank of England and the European Central Bank.
ClearBank Joins Others in Circle Payments Network
ClearBank will also join Circle Payments Network (CPN), becoming one of the first European banks to offer clients the ability to make payments using stablecoins. It unlocks instant cross-border transfers, boosts transparency, and ensures MiCA-compliance.
Commenting on ClearBank’s joining Circle Payments Network, Circle’s vice president of partnership and business development, Sanja Kon, said:
In addition, our collaboration will expand access to USDC and EURC, enabling faster settlement, greater transparency, and new financial services built on open, programmable money.
ClearBank CEO Mark Fairless claimed that joining the network is crucial for the firm amid rising stablecoin adoption. The collaboration will help build a bridge between the traditional financial system and the next generation of money movement.
In September, Deutsche Borse partnered with Circle to use regulated stablecoins USDC and EURC across Europe’s market infrastructure.
This would reduce settlement risk, lower costs, and improve efficiency for banks, asset managers, and the wider market. It also marks a key step in advancing the regulated adoption of stablecoins across European markets.
Crypto exchange Kraken also announced a collaboration with the stablecoin issuer to boost global access and utility of USDC and EURC. The exchange has announced various services, including tokenization, as it expands across Europe.
Circle Stock Rally
Circle stock price jumped more than 2.50% to $145.35 during the premarket hours on Monday, as per Yahoo Finance. Circle (CRCL) stock price closed 9.39% higher at $142.05 on Friday.
The stock has surged nearly 8% in a month despite high uncertainty and volatility in markets amid the U.S.-China trade talks and crypto market liquidations.
Analyst ProblemSniper suggests watching Circle stock this week as it eyes a breakout above $148. Catalysts amid a lot of bullish activity on the stock will likely trigger a move to $190 price target.
Circle stock nears a breakout of the downtrend as it managed to break through that critical trendline resistance. Bulls would provide strength as buying pressure continued to rise in the past few days.
The crypto market recovery following lower-than-expected US CPI data is expected to provide further support for CRCL stock. Also, USDC and EURC stablecoins’ market cap continues to rise amid demand from clients, with USDC sitting at $76.19 billion market cap.