BCB Group Partners With Circle to Meet Growing Institutional Demand for USDC

BCB Group, a major global digital asset financial services group has partnered with Circle, the creator of the USDC stablecoin. According to a press release, the partnership will allow BCB Group to leverage Circle’s functionality in order to solve the growing institutional demand for USDC payments, clearing and custody.

BCB claims this move will further its commitment of being the leading and quickest fiat on/off ramp for rapid USDC entry and exit in Europe. It will enable the company to improve the way its institutional customers utilize USDC, including transaction speed, efficiency and fees. This will help BCB to mitigate negative rate risk for its customers’ European exposure.

Commenting about this partnership, Jeremy Allaire, Co-founder and CEO of Circle said BCB is an innovative and fast-moving financial service firm that has been playing active role in shaping the future of the digital assets industry.

He added that “With institutional demand for digital dollar stablecoins growing rapidly around the world, BCB’s introduction of USDC services will provide clients with a critical piece of market infrastructure that is helping drive significant growth in crypto capital markets.”

Oliver von Landsberg-Sadie, Founder and CEO of BCB Group also commented that the company is excited to be working with Circle and look forward to bringing market solutions that offer clients the benefit of USDC in this period of rapid growth for the industry. As a trusted partner to major institutions, Oliver claims BCB will remain committed to delivering industry-leading services through technological transformation.

With 1.1 billion in circulation as at last month, USDC is believed to be the fastest growing USD-backed stablecoin and is fully backed by the CENTRE consortium, co-founded by Coinbase and Circle. Unlike its rival USDT, USDC has no issues regarding the amount of USD that its supply is pegged to. 

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