Cabital adds GBP payment method following BCB partnership
Digital assets institution Cabital has partnered with BCB Group (BCB) to incorporate GBP to its list of payment methods.
The partnership with BCB allows users to exchange GBP for crypto assets and vice versa. Customers who convert their digital assets into GBP can easily transfer it to a bank account held in their name.
“Cabital’s partnership with BCB allows people who hold GBP to buy crypto assets and enjoy high-yield passive income through our interest-bearing crypto asset deposit products on Cabital Earn,” said Raymond Hsu, co-founder & CEO of Cabital.
“This will provide our customers who hold GBP with more opportunities to generate higher returns in an exciting and quickly growing asset class.
“As we further execute our strategic ambitions, we will continue seeking secure and efficient strategic partnerships that will allow our customers to easily and safely invest in cryptocurrency and generate high-yield passive income from their digital assets no matter what fiat currency they hold. Looking ahead, we plan on adding more fiat currencies to Cabital’s crypto rails in 2022.
“I am confident that the continued execution of our strategic priorities will create long-term sustainable value for our shareholders and customers.”
Oliver von Landsberg-Sadie, founder and CEO of BCB Group, added the move paved the way for Cabital to incorporate GBP into its offering.
Last month, Cabital announced that it had added the European Union’s Single Euro Payments Area (SEPA) to its growing list of payment methods, enabling customers to seamlessly change between euros and cryptocurrencies to generate high-yield passive income.
The SEPA announcement came after Cabital’s recently successful $4 million seed round that was led by SIG, Dragonfly, and GSR, increasing the company’s valuation to $40 million. That followed Cabital’s previously successful angel round where the company raised $3 million.