BCB Group To Help B2B Treasuries Adopt Crypto

BCB Group, which works in global digital finance, has rolled out a new program to help get corporate treasury departments to embrace digital assets, a press release says.

BCB works to provide business accounts and trading services for the digital asset economy.

Companies have begun realizing the value of having bitcoin or other digital coins on their balance sheets as bitcoin’s price is still bullish.

BCB’s solution will help treasury departments access management to begin incorporating digital assets, for companies that wish to allocate either part or all of their capital into bitcoin. It will be an “end-to-end service enabling treasury executives  to enter, hold, manage, grow and report on a bitcoin-focused treasury strategy,” the release says.

“We are seeing some powerful signals attracting companies to the digital asset space including the debasement of reserve currencies through unprecedented levels of central bank money supply,” BCB Group founder and CEO Oliver von Landsberg-Sadie said, according to the release. “Some visionary CEOs, including MicroStrategy’s Michael Saylor and Tesla’s Elon Musk, are tuned into the coming-of-age of digital money and have led the way for the bitcoin treasury demand, which BCB is well equipped to meet.”

PYMNTS reported recently on the new interest from the corporate world in digital assets, writing that the shift came with the new regulations and higher yields. Last September, the OCC passed a new ruling that would let banks and federal savings associations hold some crypto assets.

Voyager Digital Co-Founder and CEO Steve Ehrlich said that his company was “trending towards larger scale adoption.” He said more regulation would mean the beginning of the adoption phase as more assets are legitimized in the eyes of businesses.

But despite the new optimism, the general market’s understanding of crypto still isn’t much. Ehrlich said Voyager’s priority was security, including keeping up as best as possible with regulators and anti-money-laundering practices.