Virtual asset service providers (VASPs) will now have access to payment and banking specialist Clear Junction‘s named virtual IBAN (vIBAN) services, meaning VASPs will be able to fully trace funds, streamline reconciliation, enhance AML and KYC processes, and foster greater institutional trust.
Previously only available to banks and electronic money institutions (EMIs), named vIBANs are a unique code assigned to individual customers for sending and receiving payments, without creating a separate payment account. Clear Junction has extended these services to VASPs to bridge the fiat and digital asset ecosystems through compliance-focused infrastructure.
In doing so, Clear Junction is strengthening the fiat infrastructure available to regulated crypto firms, helping them overcome barriers to accessing reliable account services. Explaining how it is achieving this, Dima Kats, CEO and founder of Clear Junction, commented: “The virtual asset ecosystem has matured rapidly, but fiat infrastructure has often lagged behind. We’re closing that gap, and this launch is another step toward normalising crypto within the global payments ecosystem.
“We’ve long understood that VASPs face an uphill battle accessing fiat services, even when they’re fully licensed and compliant. This launch is about solving that pain point with a practical, scalable solution. By extending named vIBANs to digital asset providers, we’re giving regulated crypto institutions the tools they need to scale responsibly, with full compliance and greater operational clarity.”
Overcoming challenges
As regulatory clarity improves across key markets – including the EU’s Markets in Crypto-Assets (MiCA) framework and the UK’s new crypto registration requirements – crypto companies are under growing pressure to meet higher standards of compliance, AML screening, and auditability. Yet many still face institutional gatekeeping and outdated banking systems that restrict access to essential fiat services, often forcing them to rely on high-friction workarounds or intermediaries.
Clear Junction’s named vIBANs solve these challenges by giving digital asset providers direct access to fiat settlement capabilities and customer-level account referencing. This unlocks a range of crypto-specific use cases, including peer-to-peer transfers, fiat-to-crypto conversions, and automated treasury operations. In turn, it boosts operational efficiency, reduces risk, and enables crypto-native institutions to deliver bank-like services on par with traditional fintechs and EMIs.
Example use cases include:
- Wallet operators assigning unique vIBANs to individual users, enabling fiat deposits/withdrawals with reference-free reconciliation.
- Crypto exchanges managing multiple jurisdictions and currency pairs with cleaner fund flows.
- OTC desks executing high-volume fiat-to-crypto conversions under tighter operational controls.
- Token issuers streamlining fiat treasury flows across ecosystems.
Expanding Clear Junction’s offering
The expanded vIBAN service is backed by Clear Junction’s regulatory expertise and technology platform purpose-built for regulated institutions. The group is licensed both as an EMI and a crypto‑asset service provider by the Financial Conduct Authority, positioning it to support the evolving needs of the digital asset sector.
Expanding named vIBANs is a perfect example of this and complements the company’s existing offerings, which include 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 via its stablecoin payment service supporting USDT and USDC on Ethereum, Solana, and Tron networks.
