Huobi Global has partnered with regulated payment service BCB Group to add support for instant payments in GBP and EUR for its customers.
BCB Group will help Seychelles-based exchange giant Huobi Global connect its trading mechanisms to the banking system in the UK and Europe. Clients of Huobi’s OTC platform will be able to instantly settle EUR and GBP transactions through the BLINC BCB network, the companies said.
According to Oliver von Landsberg-Sadie, founder and CEO of the BCB Group, Huobi did not have a European fiat gateway prior to joining BCB.
“We provide a solid infrastructure so that companies like these can just keep trading and know that trading is going on properly and all transactions are in compliance with regulatory requirements,” Landsberg-Sadie said.
He added that the regulatory barriers were high enough that Huobi had to overcome several major hurdles and the process of establishing cooperation took some time. Vice President of International Business Development at Huobi Group Ciara Sun said:
“We understand the importance of both a regulated and a well-run service. Our partnership with BCB allows us to offer services in Europe in accordance with the law, and also gives our clients in the region access to high quality services. ”
Huobi joins Bitstamp, another major exchange using the BLINC BCB payment network. BCB also works with Coinbase and Kraken, but these exchanges are not part of BLINC. According to BCB Group partner Ben Sebley, Huobi is the last major and reputable exchange to be served by BCB. The company will soon announce other collaborations in this area.
Recall that BCB Group, which provides financial services to cryptocurrency companies, received a payment operator license from the UK financial regulator early last year.
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