BCB Group Secures European Presence with EMI and DASP Licence in France
London and Paris, 30 April 2024 — BCB Group, a leading provider of payments accounts and trading services for the digital asset economy, is pleased to announce their authorisation by the ACPR and the AMF respectively to act as an E-Money Institution and Digital Assets Services Provider in France. This news follows the recent appointment of Jérôme Prigent as MD of BCB Europe, who is responsible for leading and driving the business development for Europe and executing the strategy for BCB Group’s expansion into the region.
The selection of France as BCB Group’s European regulatory base builds on the country’s clear rules for responsible innovation in FinTech and digital assets while leveraging France’s dynamic entrepreneurial, technological, banking and financial services ecosystem.
This authorisation by the ACPR and the AMF will enable BCB Group to deepen its institutional product offering within the EEA and further enable the company to collaborate with VASPs, traditional financial institutions, and other market participants. BCB Group clients will now be able to access EUR e-money wallets with instant SEPA connectivity, virtual IBANS enabling seamless customer flow of funds, as well as crypto accounts, crypto and FX trading and custody products.
Jérôme Prigent, MD of BCB Europe comments: “As BCB Group prepares for MiCA regulation to come into force, obtaining the EMI and DASP licence in France is a further milestone for BCB Group, enabling us to continue expanding our product offering while maintaining a seamless operational and trading experience and remaining committed to exceptional client service in line with our operations in the UK. This is an entry gate to Europe and opens up our strategy for the rest of the world.”
Oliver Tonkin, BCB Group CEO, comments, “This is a game changer for BCB Group, allowing us to expand our footprint into the EEA for the first time since Brexit. We have been very impressed with our engagement with the French regulators and we look forward to integrating ourselves into the burgeoning blockchain ecosystem in France. I want to thank all who have been involved in making this happen.”
BCB Group’s EMI product is now available to clients, whilst the DASP offering is expected to launch asap subject to AMF confirmation.
Earlier this year, the AMF updated its rules for digital asset service providers by requiring those entities to abide by “enhanced” registration requirements in line with MiCA. MiCA, or Markets in Crypto-Assets Regulation, which was adopted in June 2023, aims to create a uniform set of rules governing digital assets across the EU’s 27 member states. Key aspects include regulated licensing and supervision as well as shoring up consumer protections and market integrity. It is the most expansive regulatory framework within the region to date, which also lays out rules on governance, conflicts of interest and technical standards.
With a dedicated focus on institutional payment services, BCB Group provides business accounts, cryptocurrency and foreign exchange market liquidity for some of the world’s largest crypto-engaged financial institutions. BCB Group offers clients a complete end-to-end suite of payment processing, cryptocurrency trading and custody products accessible through a unified API-enabled platform, allowing clients to access a complete range of digital asset services in one place, alongside BLINC, which is BCB’s free, instant settlements network for the BCB client ecosystem.
ENDS
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, 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.
Media Contacts – BCB Group
Sam Shrager
[email protected]
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