2 years ago
BCB Group, a cryptocurrency trading and payments services steadfast aimed astatine institutions, has acquired LAB577, a blockchain and integer assets store launched by a radical of erstwhile NatWest slope bundle engineers. The fiscal presumption of the woody were not disclosed.
Both these U.K. firms person collaborated successful the past, exploring ways their respective infrastructure plays could connect. On the LAB577 side, the Digital Asset Shared Ledger brought bitcoin and ether onto the permissioned Corda Network, which was further facilitated by the BCB Liquidity Interchange Network Consortium, a benignant of SWIFT alternate for instant crypto-cash settlement.
“We’ve taken antithetic angles successful gathering infrastructure,” said BCB main Oliver von Landsberg-Sadie successful an interview. “BCB has focused connected the bottommost payments layer, alongside the liquidity, banking and trading. While LAB557’s infrastructure absorption has been looking up astatine the aboriginal of securities and that of interoperability among blockchains.”
Back successful December of past year, BCB acquired Germany’s 100-year-old Sutor Bank, a woody that’s expected to summation support from the German regulator BaFin aboriginal this month. That acquisition positive LAB577 brings BCB’s headcount to astir 200, said Landesberg-Sadie.
In the lawsuit of the LAB577 acquisition, it’s each astir blockchain engineering chops: the startup’s leader, Richard Crook, volition go BCB, main operating officer, portion his engineering pb Farzad “Fuzz” Pezeshkpour becomes the CTO of BCB Group.
“Mark Simpson, Ben Wyeth and Fuzz [Pezeshkpour] are the distinguished engineers from the aged NatWest Markets, who exited with maine successful 2018 to signifier LAB577,” said Richard Crook successful an interview. “I deliberation it’s a large changeable successful the limb to BCB’s engineering prowess.”
Landsberg-Sadie echoed this, calling the LAB577 squad “the astir outstanding engineers I’ve ever met.”
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Ian Allison is simply a elder newsman astatine CoinDesk.
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