Cryptocurrency broker BCB Group has launched an institutional prime brokerage solution, specifically designed to cater for the needs of institutional clients who need OTC best execution for their own accounts and who wish to offer cryptocurrency products and services to their own clients.
The solution is aimed at investment managers and hedge funds, including cryptocurrency funds, private banks, family offices and wealth managers.
Aiming to provide seamless infrastructure covering onboarding, execution, settlement, reporting and custodianship, BCB Group’s service enables institutions to offer their investors access to many cryptocurrencies across the spectrum of the asset class. For this unregulated market, BCB Group shadows existing regulatory requirements for analogous businesses in traditional financial services.
The bespoke service enables clients to buy and sell some of the largest cryptocurrencies including but not limited to Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple XRP. Through its trading platform, trades are brokered through wholesale exchanges, principal and agency OTC desks, and BCB Group’s own client order book. Trades are settled bi-directionally and natively in GBP (onshore), EUR, USD, CHF, ZAR and 18 other currencies.
Founder and CEO Oliver von Landsberg-Sadie, a former vice president at Barclays Investment Bank, commented, “We aim to bring the best practices of traditional financial services into digital currency markets, an arena which is both volatile and highly technical. We want to create better value for individuals and companies, but we also believe in creating value on day one for social causes, so are pledging to direct a percentage of net annual profits to philanthropic causes through our BCB Seed Foundation.”
Building on the success and technology of retail platform BitcoinBro, and responding to institutional demand for operational best practice in the cryptocurrency market, BCB Group was created by established thought leaders in finance, regulation and technology. BCB Group’s executive team have worked for Barclays, Credit Suisse, Deutsche Bank, Investec, Lloyds Commercial Bank, Norton Rose Fulbright, FIS and Sun Life of Canada.