UK company launches service for corporate treasuries to invest in Bitcoin
UK-based crypto firm BCB Group seeks to provide corporations with a way to put Bitcoin on their balance sheet by launching a dedicated treasury.
BCB Group, a global digital financial services firm, plans to help corporations navigate cryptocurrencies like Bitcoin (BTC) by launching a dedicated service.
According to a February 19 announcement, BCB Group has launched BCB Treasury, a new service designed for corporate treasury departments looking to get involved in Bitcoin like Tesla did.
The new service aims to provide a specific solution that allows access to treasury management for companies wishing to invest their capital in Bitcoin and other digital assets. With BCB Treasury, executives can enter, retain, manage and report on a Bitcoin-centric treasury strategy, the announcement states.
BCB Group Founder and CEO Oliver von Landsberg-Sadie said the launch of BCB Treasury comes in response to growing demand triggered by recent Bitcoin moves from companies like MicroStrategy and Tesla. The executive said that many companies are looking to invest in crypto to protect against weak fiat currencies:
“We are seeing some powerful signals drawing companies into the digital asset space, including the degradation of reserve currencies through unprecedented levels of money supply from the Central Bank.”
Last year BCB Payments, the core business of the BCB Group, received regulatory approval from the UK Financial Conduct Authority.
London-based BCB Group is a leading European crypto payment service provider, serving some of the world’s largest crypto companies such as Coinbase, Gemini, Galaxy Digital, Bitstamp, and Kraken. In early February, the firm appointed former Coinbase UK CEO Zeeshan Feroz as an advisor.
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