BCB Group, a crypto-dedicated payment service provider, has secured $4.5m in a strategic funding round.
The round co-led by North Island Ventures and Blockchain.com Ventures with commitments also coming from Pantera, L1 Digital and Pack Capital.
Funds from the round will help BCB Group to move ahead with its new initiatives, including BCB Treasury, a service aimed at helping companies invest into bitcoin as a treasury asset. Another new feature is BCB Wealth Partners, a crypto service for private wealth clients.
BCB experienced 19-times volume growth last year and in February 2021 alone, it processed more than $4bn in payments and trades.
The UK-based FinTech company offers accounts and payment processing technology for digital asset institutions, including Bitstamp, Coinbase, Galaxy and Kraken.
It claims to be the only dial regulated institution that delivers an end-to-end suite of payment processing, crypto trading and custody services via an API-enabled platform.
BCB founder and CEO Oliver von Landsberg-Sadie said, “There’s so much more we want to offer our clients, and many untapped regions we’d like to be in to help those markets grow via reliable payments and market infrastructure. This funding round comes at a very exciting time for BCB Group and will be transformative for our client experience.”
Previously, BCB raised $1m in its seed round back in 2019.
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