Software firm LAB577 acquired by crypto payment and liquidity provider BCB Group
BCB Group, a European provider of business accounts, cryptocurrency, and foreign exchange market liquidity, announced today that it has acquired LAB577, a software engineering venture studio at the nexus of financial services and emerging technology.
As a multi-regulated institution, BCB Group offers clients a complete end-to-end suite of payment processing, cryptocurrency trading, and custody services accessible through a unified API-enabled platform, allowing clients to access a complete range of digital asset services in one place.
“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.”
– BCB Group Founder & CEO Oliver von Landsberg-Sadie
After four years of working together, the partnership between LAB577 and BCB Group has now deepened, as the emerging technology software firm becomes the latest business to join the group. Collaboration has been seen in the connection of their two financial products, BLINC and DASL.
- BLINC is BCB Group’s instant settlement network and one of the first real-time payment networks of its kind to allow free, real-time transactions across fiat and cryptocurrencies.
- Developed by LAB577, DASL (Digital Asset Shared Ledger) is a Corda-based digital asset shared ledger for financial institutions that mitigates the business risks involved when handling digital assets, including cryptocurrencies.
Together, both BLINC and DASL have accelerated the client offerings BCB Group has brought to market. With seamless ledger and settlement services integrated into fiat banks and digital asset custodians, DASL provides high-speed bi-lateral transactions with full privacy between parties.
“We are delighted that LAB577 is joining BCB Group to accelerate our shared 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.”
– Richard Crook, Founder of LAB577, who now becomes the COO of BCB Group
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