Cryptocurrency exchange Bitstamp is backing a new real-time payment network being launched by BCB Group that will serve as a competitor to SWIFT for digital payments.
According to a press release published July 27 BCB Group, a leading digital asset financial services group, has announced the launch of BLINC, a real-time payments network that will allow free transactions across fiat and digital currencies. The release claims the Luxembourg-based crypto exchange Bitstamp is set to become the first platform to enable transactions on the BCB Liquidity Interchange Network Consortium (BLINC).
BCB Group aims to transform the infrastructure of traditional payments with BLINC via the creation of a unified architecture capable of handling instant domestic and international “fiat transactions, cross-currency transactions, security tokens, and smart contracts.” The release claims the service will be provided fee-free within the BLINC network.
Oliver von Landsberg Sadie, BCB Group’s founder and CEO, highlighted BLINC’s utility as a cross-border product.
He said,
“One of the greatest features of the digital age is the ability to build value without borders. BLINC bridges that feature into the fiat currency world in a highly scalable way.”
Bitstamp VP of Banking relations Chris Aruliah said the partnership with BLINC would allow the exchange to enable clients a “frictionless mechanism” to fund their trading accounts.
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