Cryptocurrency payments company MoonPay has just acquired a stake in business accounts and trading services provider BCB Group. In a press release published on 22 June, the latter announced that the deal will see the two businesses working together to enable additional fiat rails and cryptocurrency services in addition to expanding their offering to new markets. MoonPay is a current client of BCB Group and will become a strategic partner through the investment.
“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” said Ivan Soto-Wright, the CEO and Founder of MoonPay. “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.”
In March, BCB Group closed an investment round to fund upcoming initiatives such as BCB Treasury, BCB Yield Accounts, and BCB Wealth Partners. The initiatives will expand the company’s existing offering, which is used by some of the industry’s largest players such as Bitstamp, Coinbase, Galaxy Digital, Gemini, Circle, Huobi, and Kraken.
MoonPay currently has over 250 partners, which include Bitcoin.com, Trust Wallet, and ZenGo, and supports over 80 different cryptocurrencies. So far, the company has processed over one million transactions across 160 countries and is set to grow its client base even further following the acquisition.