BCB Crypto Banking Firm to Bridge the Gap in US Dollar Payments Following Silvergate’s Exit
BCB Group, a UK-based payment processing firm that integrates crypto firms with the mainstream banking system, has announced plans to introduce US dollar-denominated payments in the next quarter. The move comes after the company received a payments license from the Financial Conduct Authority (FCA) and has been serving institutional players such as Bitstamp, Kraken, Gemini, and Galaxy Digital with fiat-to-crypto rails such as Yen, Swiss Francs, Sterling Pound, and Euros. BCB Group’s founder and CEO, Oliver von Landsberg-Sadie, said that the firm is readying to offer US dollar capacity to leverage the absence of shuttered Silvergate Exchange Network (SEN). BCB Group was the pioneer in securing instant dollar settlement services, and the addition of US dollar capacity will further strengthen its position in the market.