Top-tier crypto exchange platform Gemini has reportedly forged an alliance with BCB Group – an EU-based crypto payment processor – to enhance fiat currency wire transfers process for local users. 

Specifically, Gemini is reportedly looking to make its offering available for UK-based users, via the collaboration with BCB Group, who has had previous partnerships with key players in the sector, nominally Coinbase, Bitstamp and Galaxy Digital.

The alliance will reportedly allow Gemini to release a solution with enhanced speed for finalizing sending and receiving British pounds, for UK users. The connection between Gemini and BCB’s API will be set up, allowing for simplification of Gemini’s interactions with a variety of banking institutions and fiat currencies, along with bringing down the involvement of manual intervention in transaction processing.

The collaboration will reportedly assist Gemini in “secure access to real-time settlement infrastructure, enabling us to integrate with our banking partners”, Gemini’s chief compliance officer for Europe, Blair Halliday.

A Gemini representative reportedly disclosed that its UK-based clients can conduct pound deposits and withdrawals using the Faster Payments scheme, CHAPS, and SWIFT transfers, together with setting up the debit cards to Gemini accounts. 

Our integration with BCB Group’s API specifically enables us to streamline the steps involved in processing these wire transfers into and out of customer accounts.