BCB Group unites with Gemini to elevate efficiency of GBP transactions

BCB Group, the global digital asset financial services group, has announced a partnership with cryptocurrency exchange and custodian Gemini to boost efficiency for UK users with faster ways to send and receive GBP.

The firm is connected into BCB’s API, facilitating minimal manual intervention in processing transactions, and streamlining Gemini’s interactions with multiple banks and currencies.

Blair Halliday, Gemini’s Chief Compliance Officer for Europe, said: “Gemini is focused on creating the smoothest experience possible for our UK customers to make deposits into and withdrawals out of their accounts instantly in GBP via Faster Payments, CHAPS, and SWIFT transfers. 

“We are excited to be working with BCB Group to ensure that Gemini has secure access to real-time settlement infrastructure, enabling us to integrate with our banking partners. As an authorised payment institution with deep expertise in the digital asset market, BCB is an excellent partner for us.”

The agreement strengthens BCB’s ambitions of being the preferred partner in the blockchain industry by reducing the barriers to entry and adding momentum to global cryptocurrency adoption.

Gemini recently announced it has expanded fully into the UK, providing individuals and institutions with simple, reliable, and secure cryptocurrency exchange and custody services in GBP.

The company’s UK launch follows the Financial Conduct Authority (FCA) granting it an Electronic Money Institution (EMI) licence. Gemini is also one of the first businesses that the FCA has approved as part of its Fifth Money Laundering Directive (5MLD) cryptoasset registration process.

Oliver von Landsberg-Sadie, Founder and CEO, BCB Group, added: “The Gemini integration project has been a real BCB tech highlight of 2020 where so much of Gemini’s forward thinking has shaped our own innovation path. Thrilled to be part of Gemini’s big splash into this region.”