BCB Group has the strategy to occupy Sutor Bank through a step taken to offer banking capabilities to the consumers thereof. No conditions (that are included in the agreement) have been specifically defined by the group; however, it stated that up to 100% of the bank would be occupied following the approval from the financial regulator of Germany called BaFin. Sutor Bank counts to be a bank within the private sector, and it will turn into a proportion of BCB Group (having in advance regulated the UK and Switzerland-based companies).
Presently the group offers business accounts, crypto trading, and payment services for those who are considered to be the largest players across the industry, such as Kraken, Galaxy, Coinbase, and Bitstamp.
For the provision of world-class services to the consumers thereof, as it has a position of a banking partner, along with sustaining the trajectory growth, there is a requirement of a bank to have the capability of running along with the group that is digitally innovative as well as extremely reliable for the handing of regulated processes and providing a straight entree for the biggest players into the significant payment rails, as stated by the CEO and founder of BCB Group – Oliver Von.
BLINC (a platform providing liquidity to industry players, traders, and exchanges so that they could have the ability to transfer their funds rapidly) counts to be the chief product of BCB. At this time, the group is focused on providing banking services needed for several partner banks. In the coming time, a considerable proportion of their respective business will be tackled by Sutor Bank, and it will responsibly deal with it. By this move, the Sutor Bank will be allowed to expand its value for crypto on an international basis.
The venue at present has the support for crypto firms and companies that wish to incorporate trading of crypto into the offering thereof, along with providing services that require a banking license. The managing director of Sutor Bank called Robert Freitag disclosed that they are delighted to have an investor for BCB because of which they can continue to develop further and further with fintech and crypto-centered strategies.
It has been asserted by Sutor Bank that the institution will continuously operate as it is functioning currently. The Intentions of BCB include its continuous function in the business field, notwithstanding the focus thereof on the industry of digital assets.
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