Banking Circle

Banking Circle provides banking and payments infrastructure for payment companies, banks and marketplaces. Its services include multi-currency accounts, Virtual IBANs, foreign exchange and cross-border payments in 24 currencies, with access to 10 local clearing schemes through direct connections and partner banks. Clients connect through APIs, a portal or SWIFT to move money and build financial services. Its stablecoin settlement services, launched in 2026, connect the core banking platform to fiat-to-stablecoin and stablecoin-to-fiat transfers involving USDC, USDG and EURI.

Founded by Anders la Cour and Laust Bertelsen in 2013, the business began as Saxo Payments and adopted the Banking Circle name in 2017. Bertelsen remains CEO of Banking Circle S.A., with a transition planned following Kush Saxena’s appointment as CEO of the broader Banking Circle Group in 2026. The bank develops its critical services internally on a cloud-native, multi-tenant platform. Its event-driven architecture supports horizontal scaling, while active-active critical services support deployments without downtime.

In April 2026, Banking Circle reported serving more than 750 payment companies, financial institutions and marketplaces, enabling them to move and convert over €1 trillion annually. EQT VIII and EQT Ventures acquired the business in partnership with its founders in 2018 and remain owners of the broader group. Banking Circle S.A. completed its acquisition of Australian Settlements Limited in August 2025; ASL and BC Payments subsequently adopted the Banking Circle Australia brand, combining domestic clearing capabilities with the global platform.