BCB Group Secures Swiss-Backed Financial Licence Brokerage Service Supporting Bitcoin (BTC), Ripple’s XRP, 3 Others

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Ripple Xrp Bitcoin Cash Ethereum

BCB Group has been granted a Swiss-backed regulatory approval as a financial intermediary for its cryptocurrency prime brokerage service that supports Bitcoin, Ripple’s XRP, Ethereum, Litecoin, and Bitcoin Cash by The Financial Services Standards Association (VQF), a permitted self-regulatory organisation by the Swiss Financial Markets Supervisory Authority (FINMA).

BCB Group is dedicated to providing frictionless system that covers custodianship, reporting, settlement, execution and onboarding for clients willing to access cryptocurrencies.

The group’s services is centered on catering for the requirements of institutions and big clients in need of On the Counter best execution  for their personal accounts and want to offer digital assets products and services to their own clients.

At the same time, BCB targets hedge funds and investment managers, and also include high net worth individuals, wealth managers, family offices, private banks and cryptocurrency funds.

BCB offers custom-made solutions for clients willing to buy and sell cryptocurrencies like Bitcoin, Ripple’s XRP, Ethereum, Litecoin, and Bitcoin Cash.

With the help of its trading platform, trades are negotiated through BCB Group’s own client order book, principal and agency OTC desks, and wholesale exchanges

Trades on the platform are resolved and negotiated bi-directionally and in many occasions in ZAR, GBP, USD, EUR, and CHF.

Speaking on the development, Mike Hofer, Partner, Wholesale & Institutional, BCB Group, said: “I am proud that BCB Group is now a fully regulated financial intermediary. This regulatory approval for our cryptocurrencies brokerage business is a testimony to our full compliance with one of the most stringent AML/KYC regulations in force in any of the FATF member countries.”

He added that “BCB Group is the only cryptocurrency OTC broker regulated in both Switzerland and the UK, which puts us in a unique position to provide tailor-made services for our institutional clients across the globe, and opening up new markets for our white-labelling partners.”

In its bid to keenly follow developments, before now, BCB has been having conversations and dialogue with regulatory bodies like UK’s FCA, Switzerland’s FINMA and South Africa’s SARB.

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