Banking Circle announced that it has established a branch in the Czech Republic, strengthening its offering in Europe and building on the company’s mission to develop a local clearing network for all major currencies.
„With a branch, Banking Circle will be able to provide local Czech koruna (CZK) payment capabilities for customers around the world, helping to support global customers in accessing this dynamic market. In the Czech Republic, Banking Circle will focus on serving banks, payment service providers (PSPs), and fintechs.” – the company said.
„Expanding to the Czech Republic is an important step for Banking Circle as it continues to expand its presence and capabilities in Europe. Banking Circle is also opening a branch in Poland and has plans to grow further in the region, highlighting its strategic focus on building out local currency capabilities.” – the company explained.
The news also follows Banking Circle joining the Czech Fintech Association, an industry group designed to support innovation in financial services to make the Czech Republic a world leader in fintech. Banking Circle is already helping Czech-based Fidoo grow from a local fintech to an SME bank in Europe.
The Czech Republic represents a highly innovative market in the global payments ecosystem. Instant payments are rapidly increasing in popularity among Czech businesses and individuals, with the Czech National Bank processing 27% more transactions in the first half of 2025 compared to the same period in 2024 and covering 99% of the market[1]. The CNB also purchased Bitcoin and other digital assets for the first time in its history in 2025, investing USD 1 million to create a test portfolio of digital assets based on blockchain[2].
Banking Circle has operated on a cross-border basis in the Czech Republic since 1st December 2019. The Czech branch received authorisation on 1st December 2025 and is expected to commence operations, including direct CZK payment capabilities, local bank accounts and multi-currency virtual IBAN solutions, later this year.
Mikkel Grönlykke, President at Banking Circle, commented: “This latest achievement represents an important milestone in Banking Circle’s global growth journey. As we continue to build a clearing network for all major currencies, establishing a presence in such an innovative European market strengthens our ability to support financial institutions worldwide. The Czech Republic is rapidly becoming a hub for digital financial services, making it a natural next step in our ambition to deliver local payment capabilities on a global scale. Our steady expansion in Europe places Banking Circle in a strong position as it approaches the crucial next stages in its growth.”
Tomáš Novotný, General Manager at Banking Circle, commented: “Opening a branch in the Czech Republic is a significant moment for our European strategy and for the customers around the world that we support in this market. From banks and PSPs to fast-growing fintechs, organisations globally are seeking partners who can deliver reliable, native payment capabilities. Our new branch will allow us to bring precisely that, helping businesses integrate more seamlessly into the local ecosystem. We’re proud to invest in a market that is rapidly emerging as a leader in digital finance, and we look forward to deepening our partnerships and contributing to the Czech Republic’s dynamic fintech landscape.”
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[1] https://www.cnb.cz/en/cnb-news/press-releases/Instant-payments-are-rapidly-growing-in-popularity-among-individuals-and-businesses-the-CNB-is-now-processing-one-quarter-more-than-in-January/
[2] https://www.cnb.cz/en/cnb-news/press-releases/The-CNB-creates-a-test-portfolio-of-digital-assets/
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