EU CRYPTO REGISTER · AUTHORISED · LAST VERIFIED
Is Banking Circle licensed under MiCA in the European Union?
Banking Circle's European entity (Banking Circle S.A.) is recorded as an authorised Crypto-Asset Service Provider under the EU's Markets in Crypto-Assets Regulation, with its authorisation issued by Luxembourg on 16 February 2026.
Verdict: Banking Circle appears in the ESMA Register of MiCA-Authorised CASPs.
| Legal entity | Banking Circle S.A. |
|---|---|
| Home Member State | Luxembourg |
| National Competent Authority | Commission de Surveillance du Secteur Financier (CSSF) |
| Authorisation date | |
| Legal Entity Identifier (LEI) | 213800W1NGBLERUS6M39 |
| Authorised services | Exchange for funds, Exchange for crypto, Transfer services |
Source: ESMA Register of Crypto-Asset Service Providers. Retrieved 30 June 2026.
About Banking Circle
Banking Circle is the brand of Banking Circle S.A., a Luxembourg-based credit institution rather than a consumer crypto exchange. On its own site it describes itself as a fully licensed bank with central bank clearing rails and APIs, built for payments businesses, banks and investment funds, and states it provides banking services to over 850 regulated financial institutions. Its crypto-asset activity sits within this business-to-business infrastructure model, not a retail trading or wallet app. Sources: Banking Circle, Banking Circle company page
According to Banking Circle's own announcements, its crypto-asset offering centres on stablecoin settlement - fiat-to-stablecoin and stablecoin-to-fiat conversion (for example EUR to its EURI stablecoin) - as institutional digital cash infrastructure with EUR and SEPA support. Research indicates it does not offer retail custody, savings, staking, recurring buys or card products. It is a multi-asset settlement service, not a Bitcoin-only or consumer-facing exchange. Sources: Banking Circle stablecoin settlement, Banking Circle EURI
On the legal question, the contracting entity is Banking Circle S.A., headquartered in Luxembourg and supervised by the Commission de Surveillance du Secteur Financier (CSSF). Per the ESMA-aligned register data, its MiCA crypto-asset service provider authorisation covers three services: exchange of crypto-assets for funds, exchange of crypto-assets for other crypto-assets, and transfer services for crypto-assets on behalf of clients. It is not authorised under MiCA for the other regulated services such as custody and administration, operation of a trading platform, placing, reception and transmission of orders, execution of orders, advice or portfolio management. Research indicates the licence is passported to France, where Banking Circle S.A. appears on the AMF white list of registered providers. Sources: Banking Circle, AMF France CASP white list
Which crypto services is Banking Circle authorised to offer in the EU?
Under its MiCA authorisation issued by Commission de Surveillance du Secteur Financier (CSSF), Banking Circle (Banking Circle S.A.) is approved to provide the following services to EEA residents. Each service is defined in Article 3(1)(16) of Regulation (EU) 2023/1114.
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Exchange of crypto-assets for funds
The exchange offers crypto-to-fiat (e.g. BTC to EUR) and fiat-to-crypto conversion. Authorisation here implies MiCA's pricing transparency requirements.
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Exchange of crypto-assets for other crypto-assets
The exchange offers crypto-to-crypto trading (e.g. BTC to ETH). Required for most spot trading pairs not denominated in fiat.
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Providing transfer services for crypto-assets on behalf of clients
The exchange can move crypto between addresses on your behalf, including off-platform withdrawals. The Travel Rule applies to these transfers.
Which services is Banking Circle not authorised to offer?
Banking Circle's MiCA licence does not cover: Custody, Trading platform, Order execution, Placing, Order R&T, Advice, Portfolio mgmt. These services may still be offered by other authorised providers, or by Banking Circle under a different regulatory framework (for example, derivatives may fall under MiFID II rather than MiCA). Source: ESMA Register, retrieved 30 June 2026.
See other MiCA-authorised exchanges by service:
Why is Banking Circle licensed in Luxembourg?
Luxembourg's CSSF is known for institutional finance regulation and offers a credible base for exchanges aiming at the institutional segment. Coinbase and Bitstamp both selected Luxembourg for their MiCA hub. Source: Commission de Surveillance du Secteur Financier (CSSF).
| National Competent Authority | Commission de Surveillance du Secteur Financier (CSSF) |
|---|---|
| Investor compensation | AGDL covers eligible deposits up to €100,000. |
| Regulatory context | Reputation as a stable, institutional-grade EU venue. |
What does this mean for users of Banking Circle in the EU?
If you transact through Banking Circle's EEA-authorised entity (Banking Circle S.A.), the protections introduced by MiCA apply to your relationship from onwards. In practical terms this means: client crypto-assets are ring-fenced from the exchange's own funds (Article 70 MiCA), the authorised entity holds prudential capital, has formal complaint-handling procedures, and is subject to transparency obligations on fees and order execution. Source: Regulation (EU) 2023/1114.
One thing to verify yourself: the legal entity you contract with day-to-day must match the entity in the ESMA register. Some global exchanges operate multiple legal entities under one brand. Confirm in Banking Circle's terms of service that your contracting entity is Banking Circle S.A., not a non-EEA affiliate.
Which MiCA-authorised exchanges are alternatives to Banking Circle?
Three MiCA-authorised providers to consider. Drawn from the ESMA register, never paid placement.
| Provider | Home Member State | Authorised | Services |
|---|---|---|---|
| Alaric Securities | Bulgaria | 9 services | |
| OKX | Malta | 9 services | |
| Kraken | Ireland | 8 services |
Related reading
Understand the regulatory context behind Banking Circle's entry on the register:
Frequently asked questions about Banking Circle and MiCA
Is Banking Circle licensed under MiCA?
Yes. Banking Circle appears in the ESMA Register of MiCA-Authorised Crypto-Asset Service Providers, with its authorisation issued by the competent authority of Luxembourg.
Which EU countries can Banking Circle serve under this licence?
A MiCA authorisation in one EEA member state permits passporting across all EEA member states, subject to a notification process to each host-state regulator.
Are my crypto-assets on Banking Circle protected under MiCA?
MiCA introduces ring-fencing of client crypto-assets, prudential capital requirements for the authorised entity, complaint-handling obligations, and conduct rules. It does not provide a deposit-guarantee scheme equivalent to bank deposit insurance.
What's the difference between the authorised entity and the global brand?
Some global exchanges operate multiple legal entities. The MiCA authorisation applies only to the specific legal entity in the ESMA register, not to the global brand. Verify the contracting entity in Banking Circle's terms of service.
Where can I check the official record?
The ESMA register publishes the authoritative list and updates it weekly. The direct link to Banking Circle's entry is on this page under 'Sources'.
Sources
- ESMA Register of Crypto-Asset Service Providers
- Commission de Surveillance du Secteur Financier (CSSF)
- ESMA MiCA Register - Banking Circle (Banking Circle S.A.)
- Banking Circle official website
- Banking Circle - stablecoin settlement services (issuer disclosure)
- AMF France CASP white list - Banking Circle S.A.
- Banking Circle company page
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