BCB Group, a European crypto-focused payment processor for the likes of major global crypto firms like Coinbase, has secured a license from British regulators.

The United Kingdom's Financial Conduct Authority (FCA) has officially approved the firm'southward cadre subsidiary, BCB Payments, every bit an authorized payment institution (API), BCB Group announced on Jan. 29.

The company is now officially regulated both in the U.K. and Switzerland

Having secured an API license from the FCA, BCB Grouping at present holds two regulatory approvals to offering cryptocurrency-related services in Europe. BCB Payments sister firm, BCB OTC Trading SARL, is already regulated in Switzerland every bit information technology'south overseen by the Financial Services Standards Clan, a cocky-regulatory arrangement recognized by the Federal Financial Market Supervisory Authorisation.

According to the firm, BCB Group is now the only dually regulated establishment of its kind to offering customers a unified suite of payment services, crypto trading and custody services. The company's platform is enabled with its proprietary application programming interface and integration into the R3'south blockchain network Corda, the printing release notes.

Coinbase, Bitstamp and Galaxy Digital are amidst clients

More specifically, BCB Group'south business is focused on providing business-to-business payment services and cryptocurrency market place liquidity for institutional clients. The visitor services some of the earth's largest crypto companies including United states-based crypto commutation and wallet service Coinbase and major European crypto exchange Bitstamp. Other clients include major crypto merchant bank Milky way Digital and crypto brokerage firm Tagomi, the firm said.

Oliver von Landsberg-Sadie, founder and CEO at BCB Group, noted that the recent regulatory approval shows that the manufacture is able to grow while ensuring that it fully complies with "some of the well-nigh stringent regulations in forcefulness globally.

The news comes weeks after the FCA officially announced that it began supervising Anti-Money Laundering (AML) compliance of local crypto-engaged companies. On January. 10, the British fiscal regulator purportedly became the U.G.'south sole AML authority for the crypto business.