Expanding Named Virtual IBAN Offerings to Regulated Businesses: Clear Junction's Latest Move in Financial Services
In a move aimed at normalising cryptocurrency within the global payments ecosystem, Clear Junction, a UK-based entity licensed as both an Electronic Money Institution (EMI) and a crypto-asset service provider by the Financial Conduct Authority, has extended access to its named virtual IBAN (vIBAN) services to licensed virtual asset service providers (VASPs) and crypto asset providers.
Clear Junction's infrastructure is designed to reduce time to market, expand access to new regions, and power faster, safer global payments. The extension forms part of Clear Junction's broader strategy to bridge the fiat and digital asset ecosystems through enterprise-grade, compliance-focused infrastructure.
The named vIBANs offered by Clear Junction provide digital asset providers with direct access to fiat settlement capabilities. This facilitates seamless integration between fiat and digital assets, enabling operations like fiat-to-crypto conversions and me-to-me transfers. By offering customer-level account referencing, Clear Junction enhances operational efficiency and reduces risk, allowing crypto-native institutions to deliver bank-like services, comparable to traditional fintechs and EMIs.
The solution is designed to support regulated crypto institutions in scaling responsibly while maintaining full compliance. This addresses the challenge many VASPs face in accessing fiat services despite being fully licensed. The service enables various use cases, such as:
- Wallet Operators: Assigning unique vIBANs for individual users, facilitating fiat deposits and withdrawals with reference-free reconciliation. - Crypto Exchanges: Managing multiple jurisdictions and currency pairs with cleaner fund flows. - OTC Desks: Executing high-volume fiat-to-crypto conversions under tighter operational controls. - Token Issuers: Streamlining fiat treasury flows across ecosystems.
As regulatory clarity improves, crypto companies are under growing pressure to meet higher standards of compliance, AML screening, and auditability. Clear Junction's named vIBANs give digital asset providers the tools to meet these challenges head-on, ensuring they can operate with the same level of transparency and security as traditional financial institutions.
Dima Kats, CEO and Founder of Clear Junction, stated that the extension is another step toward normalising crypto within the global payments ecosystem. With this extension, Clear Junction aims to strengthen the fiat infrastructure available to regulated crypto firms and help them overcome long-standing barriers to accessing reliable account services.
The extension of Clear Junction's named vIBAN services to licensed virtual asset service providers (VASPs) and crypto asset providers is part of their broader strategy to combine finance, technology, and business in bridging the fiat and digital asset ecosystems. This technological solution supports regulated crypto institutions in scaling responsibly while ensuring full compliance in finance and adherence to regulatory standards, thereby strengthening the fiat infrastructure available to them.
