Lisbon, January 13, 2024 – Bison Digital Assets (BDA), the crypto asset subsidiary of Bison Bank, a private investment bank headquartered in Lisbon, is in the process of convergence and alignment to ensure compliance with European Markets in Crypto Assets (MiCA) regulation when offering stablecoins to its clients. It is in this context that it is integrating its operations directly with Circle’s issuance and redemption platform. Circle is a global financial technology company and, through its regulated entities, the issuer of EURC and USDC stablecoins.
This partnership enables BDA to leverage stablecoins for deposits, withdrawals, and transfers. USDC and EURC are fully reserved dollar and euro stablecoins backed 100% by liquid cash and cash-equivalent assets and are redeemable 1:1 for US dollars and euros. The reserves for USDC and EURC are held at regulated financial institutions with published third-party monthly attestations, providing a high level of transparency for BDA’s customers.
As the bridge between traditional finance and blockchains, stablecoins require strong integration with the banking system at all times. Through this partnership with Circle, Bison Digital Assets customers can make transfers quickly, securely, and cost-effectively. Since its launch in 2018, USDC has been recognized for its stability and speed, processing over 19 trillion dollars in transactions.
“We are thrilled to establish this partnership between BDA and Circle, offering our customers regulated and secure stablecoins. We believe these will play a fundamental role in the future of financial services, and we are committed to leading this transformation,” states António Henriques, CEO of Bison Bank and Chairman of Bison Digital Assets.
“We’re excited to partner with Bison Digital Assets to expand access to MiCA-compliant stablecoins in the European market,” said Sanja Kon, Circle’s VP of Partnerships and Business Development, Europe. “This collaboration reflects our shared vision to enable the global movement of money in a secure, compliant, and internet-native way. By integrating USDC and EURC, BDA customers gain robust, seamless, and regulated digital payment solutions.”
Bison Bank was the first Portuguese bank to establish a cryptocurrency-focused subsidiary and among the first entities in Europe to obtain a Virtual Asset Service Provider (VASP) license from the Bank of Portugal. Circle is the first major global stablecoin issuer to comply with MiCA, the European Union’s cryptocurrency regulation.
About Bison Bank:
Bison Bank, S.A. is a Portuguese bank specializing in providing comprehensive Wealth Management, Depositary Bank and Custody, and Investment Banking services to individual and institutional clients, leveraging strategic connections between European and global markets. Based in Lisbon, the Bank develops its business activities with global reach through its strong European presence and international partnerships.
About Bison Digital Assets:
Bison Digital Assets (BDA) is the first virtual asset service provider licensed by the Bank of Portugal that is fully owned by a Portuguese Bank. BDA’s primary mission is to bridge digital currency and traditional finance through a secure and regulated environment. As Bison Bank’s virtual asset platform for individuals and institutions, it offers reliable Digital Asset Custody and Exchange services.
About Circle:
Circle is a global financial technology firm that enables businesses and developers to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Through its regulated entities, Circle is the issuer of USDC and EURC – two of the world’s largest fully reserved, regulated stablecoins accessible as open money protocols on the internet. Circle’s platform offers enterprise-grade APIs and SDKs to make it faster, easier, and safer for organizations to run their internet-scale business on the blockchain. Learn more at https://circle.com.
