London-based BCB Group, which operates crypto-focused startups regulated in the UK and Switzerland, has integrated “the full range” of functionality to improve its payments and settlement services.
This collaboration centers around the adoption of Circle’s a stablecoin pegged to the US dollar, which has its ecosystem already integrated with more than 100 exchanges, wallets, platforms, apps, and service providers.
BCB Group said the partnership with Circle allows its institutional clients to use USDC for payments, clearing and custody, helping to mitigate negative rate risk for its customers’ European exposure.
Acting as a sort of safe haven where crypto traders can park their assets in volatile markets, USDC is an Ethereum-based ERC-20 coin, which makes it easy for wallets, exchanges, and other smart contracts to interact with the token.
Coinbase has boosted USDC dominance by making it the only way to convert fiat to crypto without fees on its institutional platform, Coinbase Pro. In addition, San Francisco-based exchange has launched ‘,’ which enables US customers to earn 1.2 percent a year compounded monthly by simply storing Circle’s stablecoin in their accounts.
Circle has recently opened up the doors of its stablecoin to businesses with the launch of a dedicated account that provides a toolbox of APIs to allow developers to build on top of USDC. The move expands the reach of the offering from primarily focused on retail trading and investing to appeal for B2B partnerships.
Through its , BCB is one of few options available for cryptocurrency enthusiasts to obtain market liquidity and business accounts. Its unified infrastructure also covers payment rails, FX services, and digital assets custody. The group’s sister company, BCB OTC Trading SARL, is regulated by in Switzerland to provide over-the-counter liquidity.
”With institutional demand for digital dollar stablecoins growing rapidly around the world, BCB’s introduction of USDC services will provide clients with a critical piece of market infrastructure that is helping drive significant growth in crypto capital markets,” said Jeremy Allaire, Circle’s co-founder and CEO.
Oliver von Landsberg-Sadie, Founder and CEO of BCB Group, added: “We are excited to be working with global leader Circle and look forward to bringing to market solutions that offer our clients the benefits of USDC in this period of rapid growth for the industry”
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