LONDON--(BUSINESS WIRE)--Global digital financial services group BCB Group today announced that its core operating subsidiary, BCB Payments Limited, has secured its Authorised Payment Institution (API) licence from the UK’s Financial Conduct Authority. This establishes BCB Group as the first and only crypto-focused Authorised Payment Institution. In a market poorly serviced by mainstream banks, BCB has a dedicated focus on B2B payment services including business accounts and cryptocurrency market liquidity for some of the world’s largest crypto-engaged financial institutions, including Bitstamp, Coinbase, Galaxy and Tagomi. The firm’s sister company, BCB OTC Trading SARL, is already regulated in Switzerland by the VQF, an SRO of FINMA.
Over the year ending 2019, the firm has demonstrated robust growth, onboarding over 140 clients in 32 countries, with average monthly volume growth of 207%.
BCB Group is the only dual regulated institution of its kind to offer clients a complete end-to-end suite of payment processing, cryptocurrency trading and custody services accessible through a unified API-enabled platform, allowing clients to access a complete range of digital asset services in one place. With its proprietary API and integration into the Corda network with partner LAB577, BCB remains at the cutting edge of payments technology.
The granting of this license by the FCA further supports BCB Group’s onboarding and servicing of global clients within its fully regulated UK and Swiss payments structure, allowing them to trade and operate frictionlessly, supporting flexibility and efficiency across both digital and traditional financial markets.
Oliver von Landsberg Sadie, Founder and CEO, 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.’
‘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’.
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