Bitstamp Partners with BCB Group to Add GBP Deposit and Withdrawal

Crypto exchange Bitstamp on Monday announced that it has partnered with BCB Group, a digital asset Prime Broker Prime Broker Prime brokers are the designation given to individuals handling a package of services offered by investment banks, wealth management firms, and securities dealers to hedge funds which need the ability to borrow securities and cash in order to be able to invest on a netted basis and achieve an absolute return.There are two types of prime brokers - bank and non-bank corporations. Traditionally major global investment banks have been the predominant players in the space, however recent years have p Prime brokers are the designation given to individuals handling a package of services offered by investment banks, wealth management firms, and securities dealers to hedge funds which need the ability to borrow securities and cash in order to be able to invest on a netted basis and achieve an absolute return.There are two types of prime brokers - bank and non-bank corporations. Traditionally major global investment banks have been the predominant players in the space, however recent years have p Read this Term, to enable GBP deposits and withdrawals on its platform.

The direct GBP transfer is limited only to UK-based investors. Though the exchange did not provide any specific timeline for the launch of the service, it mentioned that it would be available by the and of this year.

“We are delighted to be partnering with Bitstamp to create an efficient transaction experience for UK clients wishing to deposit and withdraw funds in GBP,” Oliver von Landsberg-Sadie, chief executive of BCB Group, said.

STERLING: Making moves in the UK! We’ll be bringing GBP deposits and withdrawals to Bitstamp soon, in cooperation with @BCBcrypto. Read more: https://t.co/j8W4hVi0Mc pic.twitter.com/0MmcwlZwJh

— Bitstamp (@Bitstamp) July 29, 2019

BCB Group’s brokerage service offers its investors access to Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term across the spectrum of the asset class by providing infrastructure covering onboarding, execution, settlement, reporting, and custodianship.

“This is a great fit,” Nejc Kodrič, CEO of Bitstamp, added. “One of our points of emphasis is providing robust payment rails to our global customer base. We're excited to have BCB Group provide an additional boost to our efforts on that front.”

Expanding presence in the global markets

Bitstamp is one of the largest crypto exchanges in the European markets. According to Coinmarketcap.com, the platform handled more than $75.5 million of crypto trades in the last 24 hours with a total of 14 crypto-to-fiat and crypto-to-crypto pairs.

The European exchange is also expanding is reach in the foreign markets and, in April, obtained BitLicense from New York State Department of Financial Services (NYDFS) to legally offer its services in the state of New York.

Earlier this month, the crypto company also hired Caitlin Barnett, an ex-executive at Winklevoss twins’ Gemini, to head its compliance department in the United States.