BCB Group, leading digital asset financial services group, announced the launch of one of the first real-time payments networks of its kind to allow free, real-time transactions across fiat and digital currencies. The world’s oldest active cryptocurrency exchange Bitstamp is set to become the first exchange to enable transactions on the BCB Liquidity Interchange Network Consortium (BLINC). This development builds upon accelerating client demand for BCB Group’s platform over the year to end June 2020, with average monthly payment volume growth of 24%.
Read More: GlobalFintechSeries Interview with Christian Spaltenstein, Managing Director – Americas at AFEX
The innovation transforming the digital assets industry www.bcbgroup.io/blinc
The network aims to transform traditional payments infrastructure by providing a unified architecture capable of handling instant domestic and international fiat transactions, crypto transactions, cross-currency transactions, security tokens and smart contracts, all provided fee-free within the network.
Using BCB’s proprietary technology, BLINC enables participants to settle instantly in any of the currencies supported, free of charge. BLINC launches with GBP, EUR and CHF support, eliminating the need for conventional payment schemes such as SWIFT and SEPA for transfers between BLINC members. This ecosystem enables 24/7 immediate clearing, reduced operational and settlement risk, simplifies inter-counterparty-settlement reconciliation, has no cut-off times, and addresses scalability issues inherent to blockchain networks.
BLINC is also integrated with DASL, developed by LAB577, which is the leading global digital asset liquidity network for issuers, investors, financial institutions, brokers and administrators, built on Corda.
With a dedicated focus on institutional payment services, BCB Group provides business accounts and cryptocurrency and foreign exchange market liquidity for some of the world’s largest crypto-engaged financial institutions.
Read More: Entrust Datacard Solves Evolving Identity and Encryption Needs with Latest PKI Platform
