Bison Digital Assets, a subsidiary of Bison Bank based in Lisbon, has announced a partnership with Circle to integrate MiCA-compliant stablecoins into its operations. This collaboration aims to align with European Union regulations and enhance the services offered to Bison Bank customers by allowing them to use regulated stablecoins for various financial activities.
The integration involves Circle's USDC and EURC stablecoins, which are fully reserved and backed by liquid cash and cash-equivalent assets. These stablecoins can be redeemed 1:1 for US dollars and euros, providing transparency through monthly attestations from regulated financial institutions.
Circle's VP of Partnerships and Business Development in Europe, Sanja Kon, expressed excitement about the partnership, stating that it reflects a shared vision to enable secure and compliant global money movement. António Henriques, CEO of Bison Bank and Chairman of Bison Digital Assets, emphasized the importance of this partnership in leading the transformation of financial services.
Bison Bank is notable for being the first Portuguese bank to establish a cryptocurrency-focused subsidiary and one of the first in Europe to obtain a Virtual Asset Service Provider license from the Bank of Portugal. Circle is recognized as the first major global stablecoin issuer to comply with MiCA regulations.
The partnership is expected to provide Bison Digital Assets customers with efficient digital payment solutions while maintaining strong integration with traditional banking systems.