Bitcoin
$43,705.24+1.08%
Ethereum
$3,092.78+3.88%
XRP
$0.962773+2.18%
Cardano
$2.22-2.01%
Polkadot
$29.13-0.99%
Stellar
$0.277110+0.69%
Dogecoin
$0.205604+0.48%
Chainlink
$24.28-1.69%
Uniswap
$24.24+5.84%
Algorand
$1.81+5.22%
Polygon
$1.13+0.75%
Cosmos
$38.77-0.26%
Litecoin
$152.39+1.42%
Bitcoin Cash
$505.67-1.43%
Wrapped Bitcoin
$43,725.51+0.94%
The Graph
$0.707058+4.60%
Filecoin
$61.92+10.26%
Tron
$0.089419+1.31%
Ethereum Classic
$47.24+0.55%
Tezos
$6.41-7.79%
Aave
$295.26+2.00%
Monero
$243.07+3.96%
NEO
$39.25+1.57%
EOS
$3.00+2.39%
IOTA
$1.19-0.46%
BitTorrent
$0.003212+0.33%
Bitcoin SV
$129.80+1.36%
Waves
$24.44+2.82%
Maker
$2,389.35-4.88%
Dash
$162.05-0.34%
Decentraland
$0.705243-3.54%
Decred
$111.69-2.30%
ICON
$1.62+4.39%
NEM
$0.149030+2.43%
Zcash
$111.53+1.26%
OmiseGO
$9.03+4.63%
Paxos Standard
$0.991212-0.95%
Yearn Finance
$30,276.97-0.25%
NuCypher
$0.278910+1.60%
Ren
$1.08+5.05%
Qtum
$9.72+2.41%
Bitcoin Gold
$52.08+0.09%
Basic Attention Token
$0.640220+0.48%
Fetch.ai
$0.812870-4.07%
0x
$0.918885+4.83%
Kava.io
$5.89+3.41%
Bancor
$3.55+1.55%
Band Protocol
$7.62+2.29%
Siacoin
$0.015003+0.03%
Nano
$4.47-0.36%
Loopring
$0.382284+3.13%
Storj
$1.10+3.79%
Numeraire
$42.03+1.14%
Civic
$0.434570-0.14%
Lisk
$2.81+0.55%
Orchid
$0.319232+1.42%
PAX Gold
$1,757.83-0.04%
Enzyme
$147.25+1.75%
Augur
$20.79-0.22%
Aragon
$4.67+4.17%
district0x
$0.152123+4.10%
Kyber Network
$1.50+4.07%
SingularDTV
$0.001187+1.12%
Tether
$1.00-0.04%
USD Coin
$1.00-0.03%
Dai
$1.00-0.04%

Crypto Trading Firm BCB Group Raises $4.5M to Snag More Regulatory Licenses

The round was co-led by North Island Ventures and Blockchain.com Ventures.

Mar 2, 2021 at 9:00 a.m. UTC
Updated Sep 14, 2021 at 12:19 p.m. UTC

BCB Group, a U.K.-based business banking challenger for the crypto industry, has raised $4.5 million in a funding round co-led by North Island Ventures and Blockchain.com Ventures, with participation from Pantera, L1 Digital and Pack Capital.

BCB Group CEO Oliver von Landsberg-Sadie said the firm has not urgently needed to raise capital because it is profitable. Still, he said the time had come to attain more licenses – and also make a push into Switzerland and Singapore.

“We want more regulatory licenses in the U.K., EU and Switzerland,” Landsberg-Sadie told CoinDesk in an interview. “These are expensive, not just from a working capital point of view in terms of funding staff. But there's also a regulatory capital aspect. Where our licenses become more bank-like, we have to hold more capital on the balance sheet in reserve.”

Landsberg-Sadie said one of the interesting (and expensive) licenses BCB is pursuing is the Swiss Fintech license, which comes with a connection to the Swiss National Bank. 

Last month, BCB Group launched a treasury services offering aimed at crypto curious chief financial officers. 

BCB has seen about 19-times volume growth over the past 12 months, Landsberg-Sadie said, and in February 2021 the firm processed over $4 billion in payments and trades, according to a press release. Previously, BCB raised $1 million back in May 2019 from crypto investment bank NKB and an angel investor.

The firm plans to raise again later this year, Landsberg-Sadie said.  

“We are going to raise again later this year, probably on a larger scale in the $10 million to $15 million range,” he said.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...