Clear Junction, a global provider of payments and banking infrastructure services, has expanded the availability of its named virtual IBAN (vIBAN) services to licensed virtual asset service providers (VASPs).

Key Features of Named vIBANs

A named vIBAN is a unique identifier assigned to an individual customer for sending and receiving payments without the need for a separate payment account. This system enables complete traceability of funds, simplified reconciliation processes, enhanced AML (Anti-Money Laundering) and KYC (Know Your Customer) procedures, and increased institutional trust.

Broadening Access to Regulated Crypto Companies

Clear Junction aims to bolster the fiat infrastructure for regulated crypto companies by extending its named vIBAN services to European and UK-licensed VASPs. This move is part of Clear Junction’s strategy to bridge the gap between traditional finance (fiat) and the digital asset ecosystem through compliance-focused solutions.

Tackling Challenges in the Crypto Sector

As regulatory clarity increases globally, crypto companies face the challenge of meeting stringent compliance standards, AML screenings, and audit requirements. Many still struggle with institutional gatekeeping and legacy banking systems that limit access to fiat services. Clear Junction’s named vIBANs address these issues by providing direct access to fiat settlement capabilities and customer-specific account referencing.

This service supports a range of crypto-specific use cases such as peer-to-peer transactions, fiat-to-crypto conversions, and automated treasury operations. These features can significantly boost operational efficiency while reducing risks, enabling crypto-native institutions to offer bank-like services alongside traditional fintech companies and electronic money institutions (EMIs).

Additionally, Clear Junction offers a comprehensive digital asset solution including instant fiat deposits and withdrawals, SEPA and FPS payment rails in EUR and GBP, on/off-ramp solutions for fiat-to-crypto transactions, and on-chain transfers via its stablecoin payment service that supports USDT and USDC on the Ethereum, Solana, and Tron networks.