London-based global digital financial services firm BCB Group has announced it has secured an Authorised Payment Institution (API) licence from the Financial Conduct Authority (FCA).
BCB Group provides payment services including business accounts and cryptocurrency market liquidity for some of the world’s largest digital asset institutions including Bitstamp, Coinbase, Galaxy, and Tagomi.
The group’s sister company, BCB OTC Trading SARL, provides over-the-counter liquidity and is already regulated by the VQF, an SRO of FINMA in Switzerland.
Oliver von Landsberg-Sadie, founder and CEO of BCB Group, said: “This regulatory approval for our firm, a leading crypto-dedicated payment service provider, is a testament to how we’re able to push ahead with digital asset innovation while remaining in full compliance with some of the most stringent regulations in force globally.
— BCB Group (@BCBcrypto) October 3, 2019
“Our clients demand robust technology and services to continue to innovate in digital markets. We believe BCB Group is the only crypto-dedicated financial institution regulated in this way globally, positioning us for a further year of strong growth as we continue developing the quality and breadth of our services for business clients across the world.”
BCB Group has experienced an average monthly growth rate of 207% while onboarding more than 140 corporate clients in 32 countries.
Its unified infrastructure covers global payment rails, FX services, cryptocurrency liquidity, and digital custody, which has become an absolute necessity over the past year in light of numerous hacks targeting cryptocurrency exchanges.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.