BCB Group has announced its integration with Circle Payments Network (CPN) to support fiat on- and off-ramp services for cross-border stablecoin transactions.
CPN, which is operated by Circle Technology Services, is a global network of partners, including banks, payment service providers (PSPs), virtual asset providers (VASPs) and enterprises. The firms enable consumer, business and institutional payments with near real-time settlement via stablecoins.
As part of the partnership, BCB Group will serve as a Beneficiary Financial Institution (BFI) for USD, GBP and EUR. The company will enable the receipt of stablecoin payments, conversion into local fiat currencies and settlement to end-customer accounts in this role. This capability is designed to improve the speed, transparency and efficiency of cross-border payments for institutional clients.
“Integrating with Circle Payments Network enables BCB to extend its role in building modern payment infrastructure that connects stablecoin and fiat ecosystems. We’re removing legacy constraints to help deliver faster, more transparent cross-border value transfer at scale,.” said Tim Renew, CEO at BCB Group.
“This integration reflects our focus on supporting how money moves globally, underpinning our ambition to embed ourselves in the infrastructure of the payment rails of the future.
“By incorporating sophisticated AI into our systems, our aim is to complete transactions in around five minutes even in developing countries, a step that could transform the market,” concluded Tim.
The CPN allows members to screen transactions before funds are committed. As a BFI on the network, BCB will implement pre-transaction screening of both originators and beneficiaries using AI-driven models designed to support advanced AML and financial crime controls before any payment is accepted or settled.
Irfan Ganchi, SVP of product management, payments at Circle, added: “BCB Group’s integration with Circle Payments Network enables BCB to provide seamless stablecoin-to-fiat settlement across key corridors and multiple currencies.
“As a BFI on the network, BCB expands access to programmable payment infrastructure designed to improve the speed and efficiency of global money movement.”
