Bitstamp and BCB Group, a leading global digital asset prime brokerage, have partnered to enable investors from the UK to transfer GBP directly to and from their Bitstamp accounts.
Europe’s largest cryptocurrency exchange will have the new GBP service – supporting deposits and withdrawals directly in GBP – available to customers by the end of the year. The service was developed by BGB Group whose range of solutions for exchanges, institutions, and high net worth
clients seeking OTC best execution for their own accounts include the GBP service.
Oliver von Landsberg-Sadie, Founder and CEO of BCB Group, commented:
“We are delighted to be partnering with Bitstamp to create an efficient transaction experience for UK investors 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.”
Nejc Kodrič, Chief Executive Officer of Bitstamp, said: “This is a great fit. One of our points of emphasis is providing robust payment rails to our global customer base. We’re excited to have BCB Group provide an additional boost to our efforts on that front.”
Bitstamp, one of the world’s oldest cryptocurrency exchanges in activity has been live since 2011 and will soon be celebrating 8 years of continuous operations. The firm has recently launched a new mobile app and webpage redesign.
The exchange’s presence in the United States was ramped up in April 2019 as Bitstamp USA Inc., a subsidiary of Bitstamp Ltd., was granted a virtual currency license from the New York State Department of Financial Services (DFS). Bitstamp USA is now authorized to offer customers the ability to buy and sell bitcoin, along with select other virtual currencies, for USD and vice versa.
Bitstamp has become the 19th company to be granted a BitLicense by the New York State DFS ever since the regulator opened the door to the virtual currency market in 2015. The financial watchdog provides licenses to technology-based money transmitters under New York’s money transmitter law; online lenders under New York’s banking law; and virtual currency exchanges under New York’s financial services law.
