BCB Group unveils all-in-one stablecoin, crypto and fiat payments product
Collect in over 25 currencies and pay out into a single account
London, 29 October 2024 -BCB Group, a leading regulated provider of multi-asset payments, trading and storage services for the digital asset economy, has launched a new, multi-currency solution leveraging stablecoins, that enables global businesses to consolidate payments from multiple crypto and fiat currencies into a single account.
The new Flex Collect product streamlines and simplifies the process of collection and pay out in any currency, to flexibly meet global money movement needs.
Flex Collect allows clients to set multiple ‘collect’ accounts in over 25 crypto and fiat currencies including Circle & PayPal USD stablecoin, Circle’s EURC stablecoin, Euro, US Dollar and Sterling. Payments made into these accounts from counterparties across the world are converted and deposited into a client’s nominated currency account, same day. Where required, stablecoins are used to bridge between currencies, speeding up settlement. The solution, backed by BCB’s regulated infrastructure and operations, removes the complexity of multi-asset payments for any global business.
Ashley Pope, Chief Product Officer, BCB Group, said: “Removing complexity and giving clients flexibility are key to global payments. Our clients include crypto natives like regulated global exchanges, traders and market makers as well as companies that recognise the advantages of offering, accepting and leveraging stablecoins, crypto and fiat, like global merchants and gaming firms.”
Pope goes on to say, “Traditional fiat payment solutions make up half the picture and are plagued by slow processing times, transaction settlement uncertainty and complex regulations. Our BLINC instant payment and settlement network solved this for fiat payments. Flex Collect is the natural evolution of our product suite that slices through payment challenges to create a simple streamlined solution for any type of value transfer, whether crypto or fiat, anywhere in the world.”
“I call it stablecoin payments on steroids,” said Pope.
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About BCB Group
BCB Group is a leading provider of regulated payment, wallet and trading services in crypto and fiat for the digital asset economy. We provide accounts, cryptocurrency and foreign exchange market liquidity for some of the world’s largest, crypto-engaged businesses.
Our end-to-end suite of fiat and crypto payment, trading and wallet products and services are accessible through our Client Console UI and API. We offer more than 40 fiat and cryptocurrencies, deep trading liquidity, 24/7 instant payments through BLINC and secure crypto services. Our strong focus on compliance matches our technical and business expertise, and we are regulated by some of the world’s most respected regulators.
BCB Group is trusted by over 250 clients and industry-leading partners, including crypto exchanges, liquidity providers, market makers, investment firms, custodians, payment processors and wallet providers.
We are authorised in the UK, France and Switzerland and place the utmost importance on our regulatory-first institutional principles.
Our leadership team boasts years of relevant, high-level experience, having built their careers at globally-renowned institutions. They combine finance, law, regulatory and technology skills in traditional and crypto financial services with a deep understanding of the new digital asset economy.
Disclaimer
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.