British company, BCB Group, to help businesses invest in Bitcoin

British crypto company BCB Group has unveiled a new service dedicated to supporting companies who want to connect bitcoin and other digital assets to their treasuries.

BCB Group Founder and CEO Oliver von Landsberg-Sadie believed that many companies that are interested to venture into the digital asset space as “unprecedented levels of central bank money supply” are devaluing their reserve currencies. He further noted how MicroStrategy’s Michael Saylor and Tesla’s Elon Musk, “are tuned into” Bitcoin and have “led the way for the Bitcoin-treasury demand, which BCB is well equipped to meet.”

BCB Treasury offers access to treasury management for businesses wishing to assign “part or all of their capital” to Bitcoin or other crypto assets. The service also helps treasury executives to join, retain, handle, develop and report on a Bitcoin-focused strategy.

The dual-regulated institution offers the processing of accounts and payments to entities that include Bitstamp, Coinbase, Galaxy and Kraken, among fiat and cryptocurrencies.

On 29 January, BCB Group announced that its core operating subsidiary, BCB Payments, had obtained its API licence from the UK regulator, the Financial Conduct Authority.

Recently, Crypto Exchange Coinbase said it was “ready to serve” businesses looking to crypto to “hedge or diversify their excess cash.” In a blog post, Coinbase’s Head of Institutional Sales, Brett Tejpaul revealed that the company has helped corporations diversify their investments with cryptocurrencies.

Reports revealed that the exchange was also behind Tesla’s recent investment in Bitcoin, but both parties did not make any official statements on the same. But on 1 December 2020, Coinbase said that the largest Bitcoin investor, MicroStrategy, had selected the US-based firm as its primary execution partner for its $425 million purchase of Bitcoin last year.

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