Gate News message, April 27 — Banking Circle, a Luxembourg-based bank, has launched a stablecoin settlement service providing bidirectional conversion between fiat currencies and stablecoins. The service currently supports instant settlement for USDC, USDG, and EURI.

The bank obtained its Crypto Asset Service Provider (CASP) license from Luxembourg's financial regulator CSSF on April 15. The new service aims to leverage blockchain technology to enhance the efficiency of cross-border settlements and fund management.