With the new license, ClearBank will be able to offer its services throughout Europe. According to the corporation, this is the "first step in ClearBank's international growth plans."

With the acquisition of a Dutch banking licence, ClearBank will be able to provide accounts and payments in euros in addition to pounds sterling. The company will also have access to major European payment rails such as SEPA Credit Transfer, TARGET2 (T2), and SEPA Instant Credit Transfer.

Furthermore, customers across the continent will be able to access FX and multi-currency services through ClearBank's new European division.

The Netherlands was selected as the location of ClearBank Europe N.V.'s headquarters due to its "strong economy, robust yet innovative regulatory regime, and thriving fintech ecosystem," the business reports. In addition, ClearBank disclosed intentions to engage more than 60 additional staff members and invest more than €70 million in its European operations over the following five years.

The CEO of ClearBank, Charles McManus, said of the company's new license, "This marks the first milestone in our global expansion strategy." We will shortly satisfy customer requests for clearing in euros and pounds, with the US currency following behind.

The announcement follows ClearBank's 2023 announcement of its first profitable full year.