The London BCB Group, Payment service provider for the digital assets industry, rises at Max Heinr. Sutor OHG (Sutor Bank). It initially invests a substantial amount and takes over the private bank after Bafin has given its approval. Sutor Bank will thus become part of the international BCB Group, which already includes regulated companies in Switzerland and the UK.
BCB Group is delighted to announce today that Hamburg-based @SutorBank is joining the group!
— BCB Group (@BCBcrypto) December 15, 2021
BCB offers international customers from the digital assets industry business accounts, payment transactions in 27 currencies and crypto trading. Customers include the large companies in the industry such as Bitstamp, Coinbase or Kraken. BCB’s central product is BLINC, a liquidity network through which players in the digital assets industry, stock exchanges, traders and institutional investors can transfer money around the clock (24/7) in real time.
The BCB Group is currently purchasing the banking services required for this business from various partner banks. In the future, a large part of this business is to be handled by the Sutor Bank. At the same time, Sutor Bank can use BCB payment services to expand its own crypto banking platform internationally. The platform supports crypto-tech companies and companies that want to integrate crypto trading in their offerings with the services that require a license.
Complemented by the existing high-performance securities infrastructure of the Sutor Bank and the offers of the other group companies, the BCB Group developed with the takeover into the leading international business bank for the converging capital markets for traditional securities and digital assets.
The BCB Group provides the necessary equity capital for the new and existing business areas and also enables investments in talent and technology.
The Sutor Bank will continue in its existing form, the previous owners and managers of the Sutor Bank, Robert Freitag and Thomas Meier, will remain on board as managing directors.
“We are happy that in BCB Group we have found an investor with whom we can continue our growth-oriented fintech and crypto strategy”
explains Robert Freitag.
“It was important to us that our partner also respects the 100-year history of our bank and that the bank is continued as a whole”
adds Thomas Meier.
Oliver von Landsberg-Sadie, founder and CEO of the BCB Group, justifies the purchase of Sutor Bank:
“With the combination of BCB Group and Sutor Bank, we can offer our customers in the digital assets industry the best possible portfolio of products and services in the EU. Sutor Bank has long been visionary in its market and we look forward to taking our offering to a new level together. We are also delighted that Hamburg, one of the world’s most innovative cities, is becoming a new location for us. “
Mike Hofer, Chief Banking Officer of the BCB Group, adds:
“With Sutor Bank as a new member of the BCB family, we can offer the digital assets industry significantly more and more extensive services than before. I am pleased that in the new constellation, many of the restrictions that naturally result from working with partners outside the group are disappearing, and that we are now opening up many new opportunities because we will have our own banking license in the group. “
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London-based Bitcoin Bank invests in Hamburg’s private bank