Banking for Digital Asset Economy

VeradiVerdict - Issue #126

March 04, 2021

“As a new financial system continues developing around digital assets and decentralized finance, its leading companies and projects will need dedicated payments and banking services. BCB Group has built a set of financial products natively designed for the blockchain-powered economy and we’re excited to help them accelerate their offerings.”

Since the beginning of my career at Pantera Capital, blockchain and cryptocurrency companies have endured years of difficulty and uncertainty with their banking relationships. We have spent much time building relationships with numerous banks around the world to help our portfolio companies yet those banking challenges have persisted until more recently. Enter BCB Group, Europe’s leading provider of business accounts and trading services for the digital asset economy. Pantera recently participated in a strategic funding round for the company with North Island Ventures, Blockchain.com Ventures, L1 Digital, and Pack Capital.

BCB Group is the only dual regulated institution that offers clients a full stack solution which includes payments processing, cryptocurrency trading and custody services through an API, and a breadth of digital asset services. Clients include headline brands such as Bitstamp, Coinbase, Galaxy, and Kraken. Traction has been impressive so far with 19x volume growth over the last twelve months, processing over $4bn in payments and trades just in February 2021 alone.

Going forward, BCB Group looks to expand in a few ways:

  • BCB Treasury - a service designed to help companies interested in investing in bitcoin as a treasury asset

  • BCB Yield Accounts - a product offering clients an interesting-bearing opportunity on their positions

  • BCB Wealth Partners - a comprehensive crypto service for private wealth clients

Pantera is excited about partnering with BCB Group and believes the company is providing essential financial infrastructure for companies and institutions to get started and thrive with their digital assets.

- Paul V

DIGESTS

A true fan is defined as a fan that will buy anything you produce. These diehard fans will drive 200 miles to see you sing;

NEWS

One source tells CoinDesk that Curv could be sold for as much as $500 million.

The survey asked 1,800 respondents whether they “trusted” cryptocurrency and if they'd want to get paid in it.

REGULATIONS

While others speculate on the coins themselves in the new gold rush, entrepreneur Austin Woodward’s happy to provide the picks and shovels

Developers built politically sensitive applications on Binance Smart Chain as a way of showing the increasingly popular blockchain platform is not as decentralized as Ethereum. The dapps remain online.

IN THE TWEETS

NEW PRODUCTS AND HOT DEALS

Acclaimed musician 3LAU has made history by selling an entire album of his work as 33 unique NFTs.

The team behind Kine Protocol has raised $7 million in a funding round to launch a derivatives-focused decentralized exchange on Ethereum.

LETS MEET UP

Walks at the park or Zoom coffee meetings!

ABOUT ME

Hi, I’m Paul Veradittakit, a Partner at Pantera Capital, one of the oldest and largest institutional investors focused on investing in blockchain companies and cryptocurrencies. The firm invests in equity, pre-auction ICOs, and cryptocurrencies on the secondary markets. I focus on early-stage investments and share my thoughts on what’s going on in the industry in this weekly newsletter.