The UK has its first FCA-backed crypto payments company

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BCB Group is a U.K.-based entity that provides cryptocurrency financial services for businesses and other entities, among which are companies such as Coinbase, Galaxy, Bitstamp and more. It has payment channels set up with more than 20 countries, and also deals in financial exchanges, digital asset custody and more. BCB has several companies under its umbrella, including BCB Payments Limited, BCB Prime Services Ltd, BCB OTC Trading SARL and more, and can now brag about being the first company in the U.K. to hold an Authorised Payment Institution (API) license with the country’s Financial Conduct Authority (FCA).

According to a press release from today, BCB states that BCB Payments has been approved for the API license, which makes it the “first and only crypto-focused” payment solution to be issued a license by the FCA. The company adds, “The granting of this licence by the FCA further supports BCB Group’s onboarding and servicing of global clients within its fully regulated U.K. and Swiss payments structure, allowing them to trade and operate frictionlessly, supporting flexibility and efficiency across both digital and traditional financial markets.”

BCB Group bills itself as a dually-regulated institution that can offer end-to-end payment processing and crypto trading and custody services. This capability gives its clients a robust solution for managing their digital assets through a single interface, which is why it now has over 140 corporate clients in 32 countries.

The company’s founder and CEO, Oliver von Landsberg-Sadie, adds in the press release, “This regulatory approval for our firm, a leading crypto-dedicated payment service provider, is a testament to how we’re able to push ahead with digital asset innovation while remaining in full compliance with some of the most stringent regulations in force globally. Our clients demand robust technology and services to continue to innovate in digital markets. We believe BCB Group is the only crypto-dedicated financial institution regulated in this way globally, positioning us for a further year of strong growth as we continue developing the quality and breadth of our services for business clients across the world.”

In addition to its U.K.-based operations, BCB Group is ready to offer its services across the globe, and has set down roots in Switzerland, as well. There, BCB OTC Trading SARL operates under the guidance of the country’s financial regulator, FINMA, by way of a VQF (a financial services standards association), a self-regulatory organization overseen by FINMA.