London-based digital asset service provider, BCB Group, has closed a $4.5 million strategic funding round co-led by North Island Ventures and Blockchain.com Ventures.
BCB us a multi-faceted business that focuses on providing business accounts and trading services for companies involved in digital assets.
Currently, BCB group provides accounts and payment processing for the world’s largest digital asset institutions including Bitstamp, Coinbase, Galaxy and Kraken.
According to a press release shared with Coin Rivet, BCB has experienced 19x volume growth over the past year. In February 2021 alone, it processed more $4 billion in payments.
The capital raise will aid the development of the BCB Treasury, which is designed to help companies invest in Bitcoin as a treasury asset.
NEWS: Today we're thrilled to announce that we have closed a strategic funding round co-led by @NorthIslandVC and @blockchain Ventures, with participation from @PanteraCapital, L1 Digital and Pack Capital
— BCB Group (@BCBcrypto) March 2, 2021
BCB Group Founder and CEO Oliver von Landsberg-Sadie, said: “There’s so much more we want to offer our clients, and many untapped regions we’d like to be in to help those markets grow via reliable payments and market infrastructure.
“This funding round comes at a very exciting time for BCB Group and will be transformative for our client experience.”
Samuel Harrison from Blockchain.com Venture, added: “Access to banking services and the disconnect between fiat banking and core crypto services has been a longstanding pain point for blockchain companies. BCB addresses a large and growing need with their holistic service offering, which industry leaders have grown to now rely on”
BCB Group previously received funding from NKB Finance and a private investor in a $1m seed round in March 2019 which brought in much needed talent in engineering and operations.
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