Orbital partners with ClearBank to enhance euro transactions

Cross-border platform Orbital has partnered with ClearBank Europe, a provider of real-time clearing and embedded banking services.

The alliance will provide Orbital's enterprise clients with euro transaction capabilities.

The collaboration grants Orbital direct access to ClearBank Europe's real-time euro clearing facilities, IBANs, SEPA infrastructure, which accompanied by AML and KYC checks.

Orbital group CEO Chris Mason said: "We selected ClearBank Europe because of its real-time clearing capabilities, market-leading API, and banking-grade compliance standards. It is simply the best embedded banking provider in Europe and has a strong track record working with digital asset platforms."

By leveraging SEPA Instant Credit Transfers, businesses can anticipate reductions in the fees and foreign exchange charges commonly associated with international euro transactions.

The Orbital group also provides a suite of treasury solutions, including stablecoins, FX, and local payout options, all accessible through their unified platform.

The addition of real-time wallet-based tracking and counterparty identification aims to mitigate risk and uphold compliance standards, particularly for businesses operating across multiple jurisdictions and dealing with high volumes of transactions.

ClearBank Europe COO Ezequiel Canestrari stated: "This collaboration marks a significant milestone for Orbital, providing direct access to real-time euro clearing, named IBANs, and SEPA infrastructure and we are pleased to be supporting this delivery to their customers.”

In October last year, ClearBank onboarded its inaugural European clients, including OpenPayd, Pay Perform (trading as Orbital), and Transact Payments, to the Eurosystem’s T2 payment rail.

"Orbital partners with ClearBank to enhance euro transactions " was originally created and published by Electronic Payments International, a GlobalData owned brand.

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