LAB577’s Richard Crook and ‘Fuzz’ join BCB Group as COO and CTO

Rick Steves

BCB Group 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.

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.

Read this next

Retail FX

ThinkMarkets expands CFDs lineup to over 4000 ETFs and shares

ThinkMarkets has expanded its service offering by incorporating 2500 new CFDs on shares and ETFs on its ThinkTrader platform.

Retail FX

France regulator warns investors of Omega Pro, Businessempire.fr

France’s financial markets regulator alerted investors that scams related to Omega Pro Ltd are beginning to circulate, with the blacklisted firm capitalizing on the situation to run a range of “unrealistic” offers.

Digital Assets

Web3 platform Grand Time paid $2 million in token earnings to date

Community-driven Web3 platform Grand Time said its offering – which includes a multifaceted platforms and its native token – has been gaining significant traction highlighted by impressive operational metrics.

Institutional FX

FX volumes at MOEX halved in April as ruble gains gorund

Currency trading at Moscow Exchange (MOEX) halted its upward route in April as monthly volumes nearly halved from a month earlier.

Digital Assets

FTX US adds stock trading, fractional shares to crypto platform

FTX US, the American subsidiary of crypto exchange FTX has kicked off stock trading feature to its customers in an effort to compete with popular platforms such as Robinhood and eToro.

Industry News

UK FCA empowered to remove brokers’ permissions in 28 days

Businesses with permissions they don’t need or use, risk misleading consumers. These new powers will enable us to take quicker action to cancel permissions that are not used or needed.

Industry News

CFTC charges $44m Ponzi scheme but millions may have fled to foreign crypto exchange

The CFTC alleged that defendants transferred millions of dollars to an off-shore entity that, in turn, may have transferred funds to a foreign cryptocurrency exchange. None of these funds were returned to the pool.

Technology

Saxo Bank deploys Adenza to address Basel and EBA requirements

The integration of ControllerView will enhance Basel-driven capital calculations and reporting at Saxo Bank in support of the bank’s multijurisdictional capital and liquidity reporting requirements throughout Denmark, Switzerland and UK, with plans to expand into the Netherlands.

Executive Moves

ComplySci appoints CTO, CPO, and CLO to further regtech’s product expansion

ComplySci offers compliance software used by more than 1400 global institutions to identify risk and address regulatory compliance challenges.

<