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UK agency launches service for firm treasuries to spend money on Bitcoin

02/19/2021

U.Ok.-based crypto agency BCB Group is trying to present firms with a solution to put Bitcoin on their stability sheet by launching a devoted treasury.

BCB Group, a world digital monetary companies agency, is planning to assist firms navigate cryptocurrencies like Bitcoin (BTC) by launching a devoted service.

In line with a Feb. 19 announcement, BCB Group has launched BCB Treasury, a brand new service designed for company treasury departments looking for to become involved in Bitcoin à la Tesla. 

The brand new service goals to offer a selected answer enabling entry to treasury administration for corporations keen to take a position their capital into Bitcoin and different digital belongings. With BCB Treasury, executives can enter, maintain, handle, and report on a Bitcoin-focused treasury technique, the announcement states.

BCB Group founder and CEO Oliver von Landsberg-Sadie mentioned that the launch of BCB Treasury is available in response to rising demand triggered by the latest Bitcoin strikes of corporations like MicroStrategy and Tesla. The exec mentioned that a number of corporations want to spend money on crypto to hedge towards weak fiat currencies:

“We’re seeing some highly effective indicators attracting corporations to the digital asset area together with the debasement of reserve currencies by unprecedented ranges of central financial institution cash provide.”

Final yr, BCB Group’s core enterprise BCB Funds acquired regulatory approval from the UK’s Monetary Conduct Authority.

Headquartered in London, BCB Group is a serious European crypto fee companies supplier, serving a number of the world’s largest crypto corporations like Coinbase, Gemini, Galaxy Digital, Bitstamp and Kraken. In early February, the agency appointed former Coinbase UK CEO Zeeshan Feroz as an advisor.