Global payments and banking infrastructure provider Clear Junction has announced that it has expanded access to its named virtual IBAN (vIBAN) services to licensed virtual asset service providers (VASPs).
Previously, the functionality was only available to banks and electronic money institutions (EMIs). A named vIBAN is a unique code assigned to a specific individual customer for sending and receiving payments, without creating a separate payment account. Through this approach, Clear Junction allows complete traceability of funds, simplified reconciliation, improved AML and KYC processes, and scaled institutional trust.
Furthermore, by providing this capability to European and UK-licensed crypto asset providers, Clear Junction seeks to solidify the fiat infrastructure available to regulated crypto companies and supports them in overcoming issues in accessing reliable account services. The move comes as part of Clear Junction’s broader strategy to bridge the fiat and digital asset ecosystem gap through compliance-focused infrastructure.
Addressing current challenges in the crypto space
With regulatory clarity increasing across markets, crypto companies are under pressure to meet higher standards of compliance, AML screening, and auditability. However, many still encounter institutional gatekeeping and outdated banking systems that restrict access to fiat services. Clear Junction’s named vIBANs focus on mitigating these issues by providing digital asset providers with direct access to fiat settlement capabilities and customer-level account referencing. Through this, the company aims to deliver a range of crypto-specific use cases, including peer-to-peer transfers, fiat-to-crypto conversions, and automated treasury operations. This can result in an increase in operational efficiency and minimised risks, with crypto-native institutions being able to offer bank-like services together with traditional fintech companies and EMIs.
Moreover, this solution comes as an addition to Clear Junction’s broader digital asset offering, which currently includes instant fiat deposits and withdrawals, EUR and GBP payment rails via SEPA and FPS, on/off-ramp solutions for fiat-to-crypto transactions, and on-chain transfers through its stablecoin payment service supporting USDT and USDC on Ethereum, Solana, and Tron networks.
