BCB Group has announced a “multi-currency solution leveraging stablecoins” designed to consolidate payments from different cryptocurrencies along with fiat into a single account. The new offering is being described as “stablecoin payments on steroids.”
BCB is a payments provider that offers a digital wallet along with crypto trading. The new Flex Collect product aims to streamline and simplify the process of collection and payout in any currency to flexibly meet global money movement needs.
Flex Collect allows users to set multiple ‘collect’ accounts in 25+ different crypto assets and fiat currencies, including Circle & PayPal USD stablecoin, Circle’s EURC stablecoin, Euro, US Dollar, and Sterling.
Payments made into these accounts from counterparties worldwide are converted and deposited into a client’s nominated currency account the same day.
Where required, stablecoins are used to bridge between currencies, speeding up settlement. BCB’s infrastructure and operations strive to remove the complexity of multi-asset payments for any global business.
Ashley Pope, Chief Product Officer, BCB Group, says removing complexity and giving clients flexibility are key to global payments.
“Our clients include crypto natives like regulated global exchanges, traders and market makers as well as companies that recognise the advantages of offering, accepting and leveraging stablecoins, crypto and fiat, like global merchants and gaming firms.”
She adds that their BLINC instant payment network solved slow transaction times for fiat and Flex Collect now enables a streamlined solution for value transfer including crypto.
BCB is authorised in the UK, France and Switzerland.