BCB Group Announces New Trading Service for Clients, Unlocking LATAM Opportunities
London, 22 January 2024 – BCB Group, a leading provider of business accounts and trading services for the digital asset economy, today announced its new service to convert onshore Brazilian Real (BRL) to fiat or crypto. This will enable institutional clients to convert onshore BRL at market-leading pricing with same day settlement to either USD or USDC.
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 payment processing, cryptocurrency trading and custody products and services are accessible through a unified API-enabled platform, alongside BLINC, BCB’s free, instant settlements network for the BCB client ecosystem.
This new service benefits clients as they are able to deposit BRL into BCB Group’s Brazilian onshore account and receive USD onshore, USDC and major cryptocurrencies on the same day. Settlement to other fiat currencies is also available, with next day settlement.
Lux Thiagarajah, Chief Revenue Officer of BCB Group explains: “Market participants have long faced wide pricing and extended settlement times in converting the Brazilian Real to fiat currencies due to capital controls. The introduction of this service for our clients ensures they benefit from significantly tighter pricing, and quicker settlement times. We are excited to be able to offer this service and deliver solutions for client requirements in trading and conversion of onshore BRL, unlocking this largely underserved market.”
Lux Thiagarajah, Chief Revenue Officer, BCB Group
In 2024 many LATAM markets remain underserved and excluded from the financial mainstream. On a mission to build a global financial network, BCB Group is proud to empower payment, digital asset and FX institutions’ Brazilian operations with market leading spreads and same-day settlement for BRL/USD.
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.
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