BCB Group, a global digital financial services company, plans to help companies handle cryptocurrencies such as Bitcoin (BTC) by launching a dedicated service.
According to the announcement on 19 February, it launched BCB Treasury, a new service aimed at the company’s finance departments that want to participate in Tesla – style bitcoins.
The new service aims to provide a specific solution that provides access to equity management for companies wishing to invest capital in bitcoin and other digital assets. With BCB Treasury, managers can access, store, manage and communicate a Bitcoin-centric Treasury strategy, as the announcement says.
BCB Group’s founder and CEO Oliver von Landsberg Sadie said the launch of BCB Treasury is a response to growing demand driven by recent actions by companies such as MicroStrategy and Tesla on bitcoin. The CEO said that many companies want to invest in cryptocurrencies to hedge against weak fiat currencies:
“We are seeing some strong signals luring companies into the digital assets area, including the depreciation of reserve currencies at the expense of outstanding levels of central bank money.”
Last year, BCB Payments for BCB Group’s core business received regulatory approval from the UK Financial Conduct Authority.
Headquartered in London, BCB is a major European payment services company serving some of the world’s largest cryptocurrency companies such as Coinbase, Gemini, Galaxy Digital, Bitstamp and Kraken. In early February, the company appointed former Coinbase UK CEO Zishan Fairuz as a consultant.