ClearBank Secures ECB License, Launches European Expansion with New Amsterdam HQ

ClearBank, the newly established European branch of the London-based clearing and embedded banking firm, has secured a Credit Institution Licence from the European Central Bank (ECB). This license, overseen by De Nederlandsche Bank, allows ClearBank to expand its banking services across Europe, marking its first entry into the European market.

ClearBank Europe N.V., headquartered in Amsterdam, aims to leverage the Netherlands’ strong economy and thriving fintech ecosystem. The company plans to invest over €70 million and hire more than 60 employees over the next five years.

CEO Charles McManus expressed excitement about this expansion, highlighting ClearBank’s ability to offer Euro clearing and banking services via a scalable, real-time cloud-native platform, setting it apart from providers with legacy systems. The move will enable ClearBank to meet the growing demand for efficient, secure banking services across Europe.