ClearBank Wins License Allowing Fintech to Expand Across Europe

ClearBank Ltd. said it received a banking license allowing the fintech to offer real-time clearing and settlement services to clients across Europe, marking the UK company’s first step toward global expansion.

The European Central Bank authorized the permit, under the supervision of De Nederlandsche Bank, ClearBank said in a statement Friday. The license allows the financial-technology firm to offer European clients with euro accounts, foreign-exchange services, embedded banking and access to major European payment rails, and funds will be protected by the central bank’s deposit-guarantee rules.

Charles McManus

Photographer: Chris Ratcliffe/Bloomberg

“A full European banking license is a major milestone for our international ...