Payments Bank provides leading Payments Institution with EUR bank accounts for improved SEPA payments
London, 30th March 2022 – 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 asset services in one place. BCB also allows clients to settle instantly with each other via its flagship 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 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.”
Notes to Editors
About Banking Circle S.A.
Banking Circle S.A. is the Payments Bank for the new economy. As a fully licenced bank, free of legacy systems, Banking Circle enables payments companies and banks of any scale to seize opportunities in the new economy – quickly, at low cost.
Banking Circle S.A. is a modern correspondent bank committed to building a local clearing network for all major currencies, to deliver fast, low cost payments with no hidden fees for the beneficiary. It provides a suite of unique and award-winning banking solutions, including multi-currency banking accounts and Virtual IBANs, bank connections for local clearing and cross-border payments, all underpinned by market leading compliance and security.
Through bespoke, flexible, scalable and futureproof solutions Banking Circle S.A. is enabling financial institutions to help their customers transact across borders in a way that was previously not possible.
Headquartered in Luxembourg, Banking Circle S.A. has offices in London, Munich and Copenhagen.
Banking Circle S.A. is an affiliate company in the Banking Circle Group ecosystem which serves payment companies, banks, global marketplaces and online merchants through a rich set of complementary eCommerce solutions. These include global cross-border payments, accounts and liquidity management, embedded finance, business payments & card issuing, B2B Buy Now Pay Later and account-to-account payment methods.
Banking Circle Group is owned by EQT VIII and EQT Ventures, in partnership with Banking Circle S.A.’s founders. The Group entities have offices in Amsterdam, Copenhagen, London, Luxemburg, Munich, Singapore and Stamford, Connecticut.
About BCB Group
BCB Group is the world’s leading crypto-dedicated payment services provider, serving many of the industry’s largest clients including Bitstamp, FTX, Crypto.com, Fireblocks, Galaxy, Gemini, Huobi and Kraken. BCB Group provides payment services in 25+ currencies, FX, cryptocurrency liquidity, digital asset custody and BLINC, which is BCB’s free, instant settlements network for the BCB client ecosystem.
Responding to institutional demand for operational best practice in digital asset markets, BCB Group was created by established thought leaders in finance, regulation and technology. Founded in the UK and developed to encompass key relationships across global financial services communities, BCB Group is well positioned as one of the first multi-jurisdictional regulated cryptocurrency service firms. BCB Group’s executive team have worked for Barclays, Credit Suisse, Deutsche Bank, Investec, Lloyds Commercial Bank, Norton Rose Fulbright, FIS and Sun Life of Canada.
For further information and interviews please contact the Banking Circle Press Office:
Wendy Harrison – Harrison Sadler
T: 0208 977 9132