2 years ago
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BCB Group has acquired LAB577, a software engineering venture studio that has worked together with the digital asset industry giant for four years.
The partnership between LAB577 and BCB Group has deepened to a point that an acquisition was the natural way to go as they realized they share the same vision and can make it a reality by joining forces.
The LAB577 team will be incorporated into BCB Group and its top figures will now have leading roles at BCB: Richard Crook joins as Chief Operating Officer and Farzad ‘Fuzz’ Pezeshkpour is now Chief Technology Officer of BCB Group.
Farzad ‘Fuzz’ Pezeshkpour, the new CTO, is an industry veteran with 20 years of experience across major tier 1 investment banks. He was the platform architect and technical lead for the FX Options platform at NatWest Markets, Head of Credit Risk IT at Deutsche Bank and Head of Engineering for Risk at NatWest.
He entered the distributed ledger technology space in 2014, having worked with Ripple and Ethereum. He is a key contributor to the Corda open source project.
Payment, trading, and custody of digital assets
BCB Group focuses on institutional payment services and provides business accounts, cryptocurrency and foreign exchange market liquidity for some of the world’s largest crypto-engaged financial institutions.
It is a multi-regulated institution offering a complete end-to-end suite of payment processing, cryptocurrency trading, and custody services through a unified API-enabled platform.
Oliver von Landsberg-Sadie, Founder and Chief Executive Officer at BCB Group, stated: “As one of LAB577’s first clients, we’ve always been in awe of their ability to deliver innovative blockchain tech in a way that plays well in both TradFi and DeFi. We are thrilled to bring Richard and team fully into the group where we can build stuff the industry needs much more closely and quickly together.”
Richard Crook, Founder of LAB577 and now COO of BCB Group, commented: “We are delighted that LAB577 is joining BCB Group to accelerate our shared exciting next chapter of growth. DASL becoming part of BLINC will extend participants’ ability to settle instantly in any currency or digital asset, with no limits.”
BCB Group boasts two financial products, BLINC and DASL.
BLINC is the European crypto industry’s first instant settlements network and one of the first real-time payment networks of its kind to allow free, real-time transactions across fiat and digital currencies.
DASL is a seamless ledger and settlement services integrated into fiat banks and digital asset custodians that provides high-speed bi-lateral transactions with full privacy between parties.
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