BCB Group the leading provider of trading and business accounts for the digital asset economy is utilizing Banking Circle’s unique Virtual IBAN solution to improve payment processes for its clients. BCB and Banking Circle will work together to offer their clients reliable EUR payment accounts that increase the straight-through processing rate (STP), while also providing predictable and stable payment processes.
BCB Group provides business accounts, cryptocurrency and foreign exchange market liquidity and custody for many of the world’s largest crypto-engaged financial institutions. BCB Group is the only multiregulated institution that offers clients an entire end-to-end service, including cryptocurrency trading, payment processing and custody. This allows clients to have access to a wide range of digital asset services from one platform. BCB allows clients to settle immediately with one another via its BLINC payment network.
“We created BCB to provide the blockchain and cryptocurrency industry with durable financial infrastructure in an unpredictable environment,” commented Oliver von Landsberg-Sadie, CEO and Founder. “Delivering a full end-to-end banking service through its API-based platform, Banking Circle gives us access to SEPA enabled accounts, allowing our clients to send and receive funds quickly and at scale. Crucially, by augmenting our banking network with such a feature-rich partner, with Banking Circle we can offer our clients virtual IBAN accounts in their own name which will make a significant difference to the user experience and a material reduction in settlement and operational risk.”
Anders la Cour CEO of Banking Circle Group: “As a tech-first and cloud-based Payments Bank, Banking Circle is perfectly placed to help BCB deliver best practice and added value for its clients. Working together we can provide BCB clients with more accessible and cost-effective cross-border payments and foreign exchange.”