Crypto Payments Firm BCB Group Teams With Crypto Exchange Gemini

Announcements, News | October 13, 2020 By:

Crypto-dedicated payment services provider BCB Group has teamed with cryptocurrency exchange and custodian Gemini to provide UK users with faster ways to send and receive GBP.

BCB Group provides business accounts, cryptocurrency and foreign exchange market liquidity. It serves some of the industry’s largest clients, including Bitstamp, Coinbase, Galaxy and Kraken. The group claims that it is the only dual-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 that allows clients to access a complete range of digital asset services in one place.

Founded in 2014 by twin brothers Cameron and Tyler Winklevoss, Gemini allows customers to buy, sell, and store bitcoin, ether, and other cryptocurrencies. The company has expanded fully into the UK, providing individuals and institutions with simple, reliable, and secure cryptocurrency exchange and custody services in GBP. The company’s UK launch follows the Financial Conduct Authority (FCA) granting it an Electronic Money Institution (EMI) license. Gemini is also one of the first businesses that the FCA has approved as part of its Fifth Money Laundering Directive (5MLD) cryptoasset registration process.

According to a press release, Gemini is connected into BCB’s API, facilitating minimal manual intervention in processing transactions, and streamlining Gemini’s interactions with multiple banks and currencies.

“Gemini is focused on creating the smoothest experience possible for our UK customers to make deposits into and withdrawals out of their accounts instantly in GBP via Faster Payments, CHAPS, and SWIFT transfers,” said Blair Halliday, Gemini’s Chief Compliance Officer for Europe. “We are excited to be working with BCB Group to ensure that Gemini has secure access to real-time settlement infrastructure, enabling us to integrate with our banking partners. As an authorised payment institution with deep expertise in the digital asset market, BCB is an excellent partner for us.”

“The Gemini integration project has been a real BCB tech highlight of 2020 where so much of Gemini’s forward thinking has shaped our own innovation path. Thrilled to be part of Gemini’s big splash into this region,” said Oliver von Landsberg-Sadie, Founder and CEO of BCB Group.