Infrastructure bank tracked in the Embedded Finance Index. Named by 14 companies, most often as their fx & payouts. Sells embedded finance as Banking Circle.
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14 companies name Banking Circle in their stack. The most common role is fx & payouts (12). A company can use the same bank for more than one thing. Compare it with what Banking Circle says it sells, below.
Banking Circle is a Luxembourg-licensed bank that sells only to regulated financial institutions, not consumers. It pitches central-bank clearing access and APIs as the fix for an outdated payments back end, and now covers tokenised money alongside fiat.
“Fully licensed bank with Central Bank Clearing Rails and world-class APIs”bankingcircle.com ↗
Founded in 2013 as Saxo Payments, a cross-border payments arm of Saxo Bank, the company rebranded to Banking Circle in 2018 and was acquired by EQT the same year. The pivotal move was securing a Luxembourg banking license in 2020, transforming it from a payments vendor into a fully licensed B2B correspondent bank serving PSPs, marketplaces, and FIs. Today the company is positioned as the regulated banking infrastructure layer behind embedded finance — providing virtual IBANs, multi-currency accounts, local clearing access, FX, and agency banking to firms like Nuvei, YouLend, and Marqeta.
Other banks named for FX / Payouts in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.
An embeddable badge for Banking Circle’s own site — it always shows this page’s current rank, so it stays accurate as new disclosures land. States its own denominator; never claims a number this page doesn’t.
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alt="Ranked #18 of 179 in FX / Payouts — Embedded Finance Index 2026">
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<img src="https://www.embeddedfinanceindex.com/api/badge/banking-circle/install" width="1" height="1" alt="" style="display:none">14 companies are linked to Banking Circle in the Embedded Finance Index 2026, through their own public disclosures or Banking Circle's published customer list, including JD Fintech, EbixCash, Vivid Money, Safenetpay, Kompasbank, Gresham, Vivid Europe, ComplyPay, Paycast, B4B Payments and 2 others.
Banking Circle is a infrastructure bank. Companies in the Embedded Finance Index 2026 name it as their fx & payouts (12), banking-as-a-service (6) and payments (2).
Yes, as Banking Circle. Banking Circle is a Luxembourg-licensed bank that sells only to regulated financial institutions, not consumers. It pitches central-bank clearing access and APIs as the fix for an outdated payments back end, and now covers tokenised money alongside fiat.
The most-named FX / Payouts alternatives to Banking Circle are JPMorgan (7 buyers), Deutsche Bank (4 buyers), Citi (3 buyers), Citibank (2 buyers), ClearBank (2 buyers) and Column Bank (2 buyers).
Banking Circle is founded in 2013 and headquartered in Luxembourg.
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