MoonPay, the global payments solution for cryptocurrency, has acquired a stake in BCB Group, Europe’s leading provider of business accounts and trading services for the digital asset economy.
The deal will see the two businesses working together to further enable additional fiat rails and cryptocurrency services to their respective clients and allow them to further expand their offerings worldwide, bringing crypto on and off ramps to new geographical markets.
MoonPay is a current client of BCB Group and through this investment will become a strategic partner. The investment follows BCB Group’s appointment of MoonPay’s Chief Growth Officer, Zeeshan Feroz, as an advisor in February.
In March, BCB Group closed an investment round to fund upcoming initiatives such as BCB Treasury, which aims to help companies invest in bitcoin as a treasury asset, BCB Yield Accounts and BCB Wealth Partners, designed to provide a crypto service for private wealth clients.
BCB Group provides accounts and payments processing for the pillars of the industry, including Bitstamp, Coinbase, Galaxy, Gemini, Huobi and Kraken.
MoonPay has over 250 partners, including Bitcoin.com, Trust Wallet and ZenGo. The company supports over 80 cryptocurrencies and over 30 fiat currencies. So far, MoonPay has processed over one million transactions across 160+ countries worldwide.
Ivan Soto-Wright, CEO and founder of MoonPay, said: “BCB Group’s holistic payment and banking solutions align perfectly with our vision to level the financial playing field and continue developing the tools powering the new digital age.
“We are looking forward to working closely alongside the BCB team as they continue their impressive growth and together work to build an inclusive and efficient crypto-economy.”
BCB Group founder and CEO Oliver von Landsberg-Sadie commented: “We are delighted to have received MoonPay’s support at this vital stage of our growth journey.
“MoonPay’s market leading expertise and insight will be invaluable as we continue to transform crypto payment services.”Cryptocurrency