bcb

Caixin reported in "After Many Twists and Turns, Southeast Asian Gambling Kingpin She Lunkai is Extradited Back to China | Past Events · Future Events" that the only partner of She Lunkai's blockchain project "Asia-Pacific New City" is the Singapore blockchain company BCB Innovation Ltd. The Fincy payment software based on BCB's blockchain is also promoted within Asia-Pacific New City, aiming to create a Southeast Asian version of WeChat. Fincy and BCB share the same parent company and similar shareholders, providing fiat and cryptocurrency exchange transactions, as well as online gaming.Industry insiders point out that by offering exchanges between fiat and cryptocurrency and online games, it effectively introduces many unrelated participants, breaking down large sums of money into smaller amounts, which ultimately converge into a gambling platform disguised as a game, significantly weakening the regulation of the flow of funds.

ChainCatcher news, according to CoinDesk, BCB Markets (the trading division of crypto payment company BCB Group) announced a partnership with French banking giant Societe Generale's digital asset subsidiary Societe Generale--FORGE to promote its euro stablecoin EURCoinVertible (EURCV).EURCV was launched in April 2023 and is one of the first stablecoins to meet the requirements of the EU's Markets in Crypto-Assets Regulation (MiCA). This stablecoin is backed by cash reserves and is pegged to the euro, primarily targeting institutional users, aiming to bring stability and regulatory clarity to the European stablecoin market.

ChainCatcher news, according to CoinDesk citing two informed sources, the crypto payment company BCB Group was once the subject of an investigation by the UK's financial services regulator, which has now concluded. The two informed sources requested anonymity due to the private nature of the matter.The Financial Conduct Authority (FCA) issued a so-called s166 notice to BCB at the end of last year. This investigation has now concluded, and according to a source close to BCB, the outcome of the investigation is positive for the company. Additionally, a third informed source added that BCB is engaged in constructive negotiations with the regulator to discuss expanding its licensing scope.BCB CEO Oliver Tonkin commented in an email: "BCB Group has always adhered to a compliance-first approach in its business activities and will continue to do so. We maintain regular, open, and transparent dialogue with all regulators, and from our perspective, our relationships with all regulators are in good standing. Our interactions with the FCA continue to be positive, and we have recently obtained permission to expand our regulatory scope in the UK, as we hope."

ChainCatcher news, according to Coindesk, three insiders revealed that BCB Group is a payment processor that connects cryptocurrency companies with the banking system, and the company has now received an acquisition interest from an investor.Insiders stated that this acquisition interest was initiated by a potential acquirer while the company was exploring Series B funding. Another insider mentioned that the company is not officially for sale and is not engaged in any negotiations.

ChainCatcher news, cryptocurrency major broker FalconX will launch a dedicated foreign exchange trading desk in London, staffed by a team from the crypto banking firm BCB Group. The team will be led by Ben Sebley, with Richard Usher serving as the head of foreign exchange trading and Lux Thiagarajah as the head of commercial foreign exchange. The department will have a total of 5 employees.The company stated in a press release on Tuesday that the trading desk will provide trading services for 20 foreign exchange pairs, including major currencies such as the US dollar, euro, and British pound, to cryptocurrency trading firms, exchanges, and brokers.

ChainCatcher news, according to CoinDesk, the crypto service company BCB Group has obtained a digital asset and electronic money license in France.BCB stated that France's clear rules for responsible innovation in fintech and digital assets, along with a vibrant banking and financial services ecosystem, are the reasons the company chose the country as its European regulatory base. The authorization from French regulators will enable BCB to expand its institutional product offerings in Europe and further allow the company to collaborate with virtual asset service providers (VASP), TradFi institutions, and other market participants.

ChainCatcher news, according to CoinDesk, cryptocurrency payment company BCB Group has transferred its custody business to Ripple's Metaco platform, a move that enables BCB Group to integrate its custody technology into a single platform to protect and manage its digital asset operations.BCB Group provides cryptocurrency payment and trading services to clients such as Galaxy Digital and Gemini.

ChainCatcher news, Oliver von Landsberg-Sadie, CEO of the crypto bank BCB Group, stated that the company is accelerating the addition of an instant settlement system for US dollar fiat to cryptocurrency to fill the market gap left by the suspension of the Silvergate Exchange Network (SEN). It is reported that BCB launched its instant settlement network in mid-2020, applicable to euros, pounds, and Swiss francs.Previous report, in late February, insiders revealed that BCB Group is raising funds through convertible notes. According to RootData data, BCB Group completed a $60 million Series A funding round in January last year, which was the largest Series A funding round in the UK blockchain industry at that time. (CoinDesk)

ChainCatcher news, the crypto financial services company BCB Group is raising funds through convertible notes. According to insiders, these notes will convert into future Series B equity financing, with a pre-money valuation cap of $200 million. The founder and CEO of BCB stated that the Series B round has currently raised over $20 million and plans to close this round of financing in early March.Founded in 2017, BCB Group provides services such as payments, liquidity, and custody for crypto companies including Bitstamp, Crypto.com, Fireblocks, Galaxy, Gemini, Huobi, and Kraken. According to RootData, BCB Group completed a $60 million Series A financing last January, which was the largest Series A financing in the UK blockchain industry at that time. Current investors in the company include Pantera Capital, Blockchain.com Capital, Nexo, Wintermute, and Circle. (The Block)