Huobi, one of the most prominent cryptocurrency exchanges, recently went live on the BLINC platform. This integration will help the exchange get access to a real-time payments network that provides zero transaction fees on crypto and fiat transactions.
A new era of integration for Huobi
The partnership with BLINC was made possible by the BCB Group, a London-based entity that operates the UK and Switzerland-regulated crypto startups. BLINC is an abbreviation of BCB Liquidity Interchange Network Consortium. It provides both domestic and international transactions in multiple currencies, security tokens, and smart contracts. This also eliminates the need for mainstream payment networks like SEPA and SWIFT, which are often very costly for the users.
BLINC network has launched support for EUR, GBP, and CHF which has further helped it in strengthening the bridge between crypto and traditional currencies. Its use of proprietary technology provides institutional traders with a smoother way to fund trading accounts.
Huobi’s VP and head of global business Ciara Sun said,
“Partnering with BCB allows us to offer a European fiat on and off ramping service that we know is in line with the laws of that area, but it also allows our customers in Europe to experience a smooth and hassle-free user experience.”
A good option for institutional investors
Bitstamp is the oldest active crypto exchange in the world and also the first to use BCB Liquidity to enable transactions on its platform. BCB’s payment arm is regulated by the Financial Conduct Authority (FCA) and is one of few platforms where crypto users can get business accounts and liquidity. It comes with a unified infrastructure that covers custody of digital assets, forex services, and payment rails. Its sister company BCB OTC Trading SARL, provides over-the-counter liquidity and is regulated in Switzerland.
The Seychelles-based exchange said that it is trying to support more popular assets that comply with local laws and the platform’s standards.