Banking Circle US, a fintech payments bank, has opened its U.S. headquarters in Stamford after having recently received its charter and certificate of authority from the Connecticut Department of Banking.
Gov. Ned Lamont and Connecticut Banking Commissioner Jorge Perez on Tuesday were on hand at the new headquarters at 750 Washington Blvd., in Stamford, with other state and industry officials for the announcement.
Banking Circle US is an uninsured bank that offers fully cloud-based, financial infrastructure to support real-time, global clearing and settlements for both domestic and cross-border payment services. Its business model aims to eliminate the time and cost of cross-border payments, enabling a way for both U.S. and foreign banks, financial institutions, payment service providers, marketplaces, and corporate entities to manage their financial needs, according to Lamont’s office.
Banking Circle US Chief Executive Officer Kjeld Olson said the company has been ramping up operations in Stamford since October 2022, building out the new office, its team, and technology. The Stamford operations have grown from 5 to 25 employees and several contractors, Olson said.
“As of Feb. 1, 2024, we have begun our commercial operations with the processing of payments for our first client,” he said. He didn’t name the client in an announcement.
