BCB Group, a global digital financial services firm, has announced that its operating subsidiary, BCB Payments Limited, has received an Authorised Payment Institution (API) license from the UK Financial Conduct Authority (FCA).
BCB says this is the first and only crypto-focused Authorised Payment Institution.
BCB says it 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.
BCB Payments’ sister company, BCB OTC Trading SARL, is said to be already regulated by the VQF, an SRO of FINMA, in Switzerland, and the only dual regulated firm of its kind.
The company provides infrastructure covering global payment rails, FX services, cryptocurrency liquidity and digital custody. BCB Group seeks to cater to the needs of blockchain companies, market trading venues and buy-side financial institutions. The company reports solid growth having onboarded over 140 corporate clients in 32 countries.
Oliver von Landsberg-Sadie, founder and CEO, BCB Group, commented on the news:
“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.”