Business

Dennis Wafula

Bitstamp partner with BCB Group to enable GBP bank transfer

Bitstamp just signed a partnership with BCB Group, one of world’s leading global digital asset prime brokers to low British Pound bank transfers. This partnership will allow investors in the U.K. to transfer GBP directly to and from their Bitstamp exchange accounts.

Reportedly, through this partnership, Bitstamp customers will be able to directly fund or withdrawal assets in GBP through their Bitstamp accounts. In addition to enjoying the direct GBP transfers, customers will also enjoy lower costs; take advantage of seamless transfers and efficiency from Bitstamp.

This new service will be available to Bitstamp customers by the end of this year. Oliver von Landsberg-Sadie, Founder & CEO of BCB Group, had this to say on the partnership:

We are delighted to be partnering with Bitstamp to create an efficient transaction experience for UK traders wishing to deposit and withdraw funds in GBP. We value this partnership not only because it enables UK clients to transact with Bitstamp onshore, rather than having to send funds offshore, but also because it furthers our mission to provide seamless prime services infrastructure covering compliance, trade execution and settlement and custody for clients wishing to access cryptocurrencies.

According to a representative from the companies, the feature was under development for five months. Notably, the announcement does not necessarily mean Bitstamp will be adding GBP trading pairs. However, Nejc Kodrič, Bitstamp CEO, sees this development as a way to expand its payments services to the global market. Kodrič had this to say:

Our partnership with BCB Group is the greatest fit for our primary goal of providing a robust payment rail for all our customers. Bringing them on board is the best decision we have made and are more than happy BCB will come in handy at helping us achieve our goal.

For its U.S. market, Bitstamp was finally able to get its BitLicense from the New York State Department of Financial Services (NYDFS) back in April. In addition to getting its BitLicense, Bitstamp also added a new employee, ex-Gemini executive Caitlin Barnett, to handle its U.S. Compliance Department.

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