November 10, 2021 – Cabital, a leading digital assets institution, today announced that it has partnered with BCB Group (BCB), one of Europe’s leading provider of business accounts and trading services for the digital asset economy, enabling it to incorporate GBP to its growing list of payment methods.
Cabital’s partnership with BCB allows it to serve any customer who holds GBP as the rate of cryptocurrency adoption increases across Europe. The partnership with BCB allows users to exchange GBP for crypto assets and vice versa. Customers who convert their digital assets into GBP can easily transfer it to a bank account held in their name.
Raymond Hsu, Co-Founder & CEO of Cabital said:
“Cabital’s partnership with BCB allows people who hold GBP to buy crypto assets and enjoy high-yield passive income through our interest-bearing crypto asset deposit products on Cabital Earn. This will provide our customers who hold GBP with more opportunities to generate higher returns in an exciting and quickly growing asset class.
“As we further execute our strategic ambitions, we will continue seeking secure and efficient strategic partnerships that will allow our customers to easily and safely invest in cryptocurrency and generate high-yield passive income from their digital assets no matter what fiat currency they hold. Looking ahead, we plan on adding more fiat currencies to Cabital’s crypto rails in 2022.
“I am confident that the continued execution of our strategic priorities will create long-term sustainable value for our shareholders and customers.”
Oliver von Landsberg-Sadie, Founder and CEO of BCB Group, added: ”We’re delighted to be working with Cabital, and helping them with payments infrastructure to allow them to incorporate GBP into their offering.”
Last month, Cabital announced that it has added the European Union’s Single Euro Payments Area (SEPA) to its growing list of payment methods, enabling customers to seamlessly change between euros and cryptocurrencies to generate high-yield passive income.
The SEPA announcement came after Cabital’s recently successful $4 million seed round that was led by SIG, Dragonfly, and GSR, increasing the company’s valuation to $40 million. That followed Cabital’s previously successful angel round where the company raised $3 million.
About Cabital
Cabital is a leading global digital assets institution. The company’s purpose is to empower people to earn passive income safely and securely with their cryptocurrencies. Our main product is Cabital Earn, a cryptocurrency wealth management platform that enables customers to buy cryptocurrencies with euros and acquire higher returns on their investments of up to 12% APY.
Cabital’s compliance programme is modelled after leading global financial service providers. We use SumSub’s biometric identity verification solution to manage the risk of identity fraud. To provide our customers with peace of mind, all customers’ crypto assets are held with Fireblocks, one of the world’s most trusted digital asset custody, transfer and settlement platforms. We have been using Chainalysis’ KYT and Reactor products since our formation to empower us to meet applicable regulatory requirements on Anti-Money Laundering (AML) in each of our markets with ease and agility.
Cabital is registered in the Republic of Lithuania as a cryptocurrency exchange operator and a cryptocurrency depository wallet operator. Cabital carries out its activities in accordance with Lithuanian regulations on AML/CTF, and is subject to the European Union’s General Data Protection Regulation.
Cabital was founded by Raymond Hsu in 2020. Prior to establishing Cabital, Raymond worked for over a decade, holding leadership positions in fintech companies such as Airwallex and global banks including Citibank. Cabital’s leadership team has extensive experience working in leading traditional financial institutions, including JPMorgan Chase & Co, Nomura Securities, UBS and AIA Group.
About BCB Group
BCB Group is Europe’s leading crypto-dedicated payment services provider, serving some of the industry’s largest clients including Bitstamp, Coinbase, Galaxy, Gemini, Huobi and Kraken. BCB Group provides payment services in 20+ currencies, FX, cryptocurrency liquidity and digital asset custody.
Responding to institutional demand for operational best practice in digital asset markets, BCB Group was created by established thought leaders in finance, regulation and technology. Founded in the UK and developed to encompass key relationships across global financial services communities, BCB Group is well positioned as one of the first multi-jurisdictional regulated cryptocurrency service firms. 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.
