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European cryptocurrency exchange Bitstamp has announced that UK-based investors will be able to transfer GBP directly to and from their Bitstamp accounts.
GBP transfers will be facilitated through Bitstamp’s partnership with financial services firm BCB Group. The partnership will see Bitstamp supporting deposits and withdrawals directly in GBP, providing increased efficiency and reduced costs for clients.
According to the official announcement, the service will be launched by the end of this year. Commenting on the partnership, Oliver von Landsberg-Sadie, Founder & CEO of BCB Group, said:
“We are delighted to be partnering with Bitstamp to create an efficient transaction experience for UK investors wishing to deposit and withdraw funds in GBP. We value this partnership not only because it enables UK clients to transact with Bitstamp onshore, rather than having to send funds offshore, but also because it furthers our mission to provide seamless prime services infrastructure covering compliance, trade execution and settlement and custody for clients wishing to access cryptocurrencies."
Founded in 2017, BCB Group offers a range of solutions that have been developed to cater to the needs of exchanges, institutions and high net worth clients seeking OTC best execution for their own accounts and who wish to offer cryptocurrency products and services to their own clients. The firm has dual regulatory licences in the UK and Switzerland.
"This is a great fit," said Nejc Kodrič, Bitstamp CEO. "One of our points of emphasis is providing robust payment rails to our global customer base. We're excited to have BCB Group provide an additional boost to our efforts on that front."
Earlier in April, Bitstamp received a BitLicense from the New York Department of Financial Services (DFS), allowing it to continue its operations in the state.
Previous reports suggested that Disney was in talks to buy a controlling stake in South Korea’s biggest game company Nexon, the owner of Bitstamp. However, South Korean newspaper The Chosun llbo later came out with a report that Disney has no intention of acquiring the company.
