London-based BCB Group has announced the launch of BLINC, one of the first real-time payments networks to allow free, real-time transactions across fiat and digital currencies.
Renowned crypto exchange Bitstamp is set to become the first platform to enable transactions on BLINC, which is an abbreviation of BCB Liquidity Interchange Network Consortium.
The network provides an architecture capable of handling instant domestic and international fiat transactions, crypto transactions, cross-currency transactions, security tokens and smart contracts, all provided fee-free within the network.
This effectively eliminates the need for conventional payment schemes such as SWIFT and SEPA for transfers between BLINC users.
BLINC is also integrated with DASL, developed by LAB577, which is the leading global digital asset liquidity network for issuers, investors, financial institutions, brokers and administrators, built on Corda.
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🚀Launch of #BLINC@coinbase latest institutional review@AvantiBT plan to open in Oct and issue AVIT
— BCB Group (@BCBcrypto) July 27, 2020
Oliver von Landsberg Sadie, BCB Group’s Founder and CEO, commented: “One of the greatest features of the crypto age is the ability to build value without borders. BLINC bridges that feature into the fiat currency world in a highly scalable way.
“Among the first to benefit from this will be market makers working hard to keep markets efficient through exchanges like our launch partner Bitstamp by solving arbitrage gaps between exchanges faster than ever before. The benefits of efficient markets quickly ripple to the rest of the ecosystem.”
BLINC is accessible to BCB Group’s business account clients, which currently include five of the world’s top exchanges and market makers, and over 200 digital asset funds, hedge funds, blockchain-based businesses and independent professional traders.
Bitstamp’s VP of Banking relations, Chris Aruliah, added: “BLINC is an appealing proposition for Bitstamp, as it enables us to offer our clients a frictionless mechanism to fund their trading accounts. The ability to move money instantly in the fast-moving crypto markets is crucial and gives our clients an edge when trading on the Bitstamp platform. We are excited to be working with BCB Group on the launch of BLINC which we believe brings substantial benefits for the entire market.”
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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.