BCB Group selects Banking Circle to improve the payments experience for crypto clients

By Joy Dumasia

BCB Group, the leading global provider of business accounts and trading services for the digital asset economy, is utilising Banking Circle‘s unique Virtual IBAN solution to improve payment processes for its clients. Working with Banking Circle, BCB will be able to offer its clients reliable EUR payment accounts to increase the straight-through processing (STP) rate with stable and foreseeable 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 multi-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 assets services in one place. BCB also allows clients to settle instantly with each other via its flagship BLINC payment network.

Oliver von Landsberg-Sadie, CEO and Founder, said: “We created BCB to provide the blockchain and cryptocurrency industry with durable financial infrastructure in an unpredictable environment. 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, added: “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.”