BCB Group Announces Launch of USD BLINC to Enable Instant USD Transactions
Responding to client demand, BCB Group’s USD products empower digital asset businesses with global, instant payment & settlement connectivity
London, 28 March 2024 – BCB Group, a leading provider of fiat and crypto business accounts and trading services for the digital asset economy, today announced the expansion of its USD product offering by adding US Dollars to its BLINC network, enabling instant, 24/7 USD payments and settlement. Responding to strong client demand for USD payment solutions, this product addition follows the launch of BCB Group’s domestic USD accounts earlier in 2024 and adds to BCB Group’s overall USD product offering which includes USD stablecoin trading and custody.
This news closely follows a recent announcement about the integration of BCB Group’s BLINC network with Fireblocks, which enables BCB & Fireblocks’ customers to transfer fiat instantly and to quickly fund their exchange accounts and facilitate 24/7 fiat movement between trading venues and counterparties.
With a dedicated focus on meeting the needs of institutional payment and FX clients, BCB Group provides business accounts, cryptocurrency and foreign exchange market liquidity for some of the world’s largest crypto-engaged financial institutions. BCB Group’s end-to-end suite of fiat & crypto payment processing, trading and custody products and services are accessible through a unified API-enabled platform, which all sits alongside BLINC, BCB’s free, instant settlements network for the BCB client ecosystem.
BCB Group’s overall USD capabilities enable institutions to pay, settle, and clear USD instantly both domestically and internationally.
Massimo Di Placido, Group CFO of B2C2 comments: “We are always looking to enhance our operational efficiency and the addition of USD BLINC is a welcome development. Leveraging BLINC into B2C2’s state-of-the-art settlement infrastructure allows us to offer our clients the ability to move value rapidly, securely, and cost-effectively, reinforcing our leadership as the go-to OTC liquidity provider in digital assets.
We’re happy to collaborate with BCB Group demonstrating our commitment to providing best in class settlement capabilities and supporting the broader market’s growth and resilience.”
Oliver Tonkin, co-founder and CEO of BCB Group explains: “US banking challenges in 2023 left a significant gap in the digital assets ecosystem as institutions became unable to use instant settlement networks, such as Silvergates’s SEN Network, to facilitate 24/7 crypto-to-fiat trade settlements or on- and off-ramping to exchanges. A turn in the regulatory sentiment towards crypto activities in the US, means market participants have faced challenges in obtaining bank accounts in US Dollars that are safe, functional, regulatory compliant and cost-effective. The addition of our USD BLINC product solves transaction speed challenges for our clients whilst ensuring client funds are safe-guarded in a high-quality jurisdiction”.
The launch of USD BLINC is an important step towards creating a more interconnected, interoperable and accessible global financial system.
ENDS
Media Contacts
Sam Shrager
[email protected]
About BCB Group
BCB Group is a leading crypto-dedicated payment services provider, serving many of the industry’s largest clients including Bitstamp, Crypto.com, Fireblocks, Galaxy, Gemini and Kraken. BCB Group provides payment services in over 30 currencies, FX, cryptocurrency liquidity, digital asset custody and BLINC, which is BCB’s free, instant settlements network for the BCB client ecosystem.
Responding to corporate and institutional demand for essential and excellent infrastructure in digital asset markets, BCB Group was created by established thought leaders in finance, regulation and technology. Founded in the UK and developed to encompass key relationships across global financial services communities, BCB Group is well positioned as one of the first multi-jurisdictional regulated cryptocurrency service firms. BCB Group’s leadership executive team have worked for Barclays, Bitstamp, Coinbase, Credit Suisse, Deutsche Bank, FIS, Goldman Sachs, JP Morgan, Investec, Lloyds Commercial Bank, Luno, Norton Rose Fulbright, FIS and Sun Life of Canada.
BCB’s mission is to connect and bank the global crypto industry.
https://bcbgroup.com
Disclaimer
These services are not available to UK consumers. The information contained in this press release is intended for use and publication by journalists and should not be relied upon by private investors or any other persons to make financial decisions. Furthermore, the material contained herein is for informational purposes only and should not be construed as an offer, solicitation of an offer, or an inducement to buy or sell cryptocurrencies or any equivalents either generally or in any jurisdiction where the offer or sale is not permitted. All of the views expressed about the markets, cryptocurrencies and stakeholders in this press comment accurately reflect the personal views of BCB Group. While opinions stated are honestly held, they are not guarantees and should not be relied on. The information or opinions provided should not be taken as specific advice on the merits of any investment decision. This press release may contain statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, new legislation and regulatory actions, competitive and general economic factors and conditions and the occurrence of unexpected events. Past performance in other related cryptocurrencies is not a viable indication of future performance with actual results possibly differing materially from those stated herein. Investments in cryptocurrencies are not currently regulated by the Financial Conduct Authority. Your capital is at risk when investing in cryptocurrencies.
