Cryptocurrency company BCB Group launched BCB Treasury service for large companies and corporations wishing to invest part of their reserves in bitcoin and other cryptocurrencies.
The BCB Treasury solution will enable companies to trade, manage and store digital assets in line with their investment strategy. BCB Group founder and CEO Oliver von Landsberg-Sadie said the service will make it easier for institutional investors to transition into the crypto world.
BCB Treasury was launched due to the growing demand for the first cryptocurrency, aided by the recent actions of MicroStrategy and Tesla. MicroStrategy has already invested more than $ 1 billion in bitcoin, and now plans to buy BTC for another $ 1.05 billion.As for Tesla, the company invested $ 1.5 billion in BTC, but recently its CEO Elon Musk called bitcoin a risky asset and said that this purchase did not depend on his decision.
“Lately, many companies are willing to invest in crypto assets to hedge against depreciation of weak fiat currencies. Central banks around the world are issuing an unprecedented amount of money. This serves as a powerful signal to attract companies to the digital asset space, ”said Landsberg-Sadie.
Last year, BCB Group’s subsidiary BCB Payments received a license from the UK Financial Conduct Authority (FCA) to provide payment services to cryptocurrency firms. As a major payments operator, BCB Group serves many cryptocurrency companies and exchanges, including Coinbase, Gemini, Galaxy Digital, Bitstamp and Kraken. The BCB Group recently appointed Zeeshan Feroz, the former CEO of Coinbase UK, as an advisor.
As a reminder, last year BCB Group partnered with cryptocurrency company Circle to enable financial institutions to make faster and cheaper payments using the USDC stablecoin.