Crypto payments platform MoonPay has acquired a stake in BCB Group, a crypto-focused payment services provider.
Financial terms of the deal were not disclosed.
MoonPay, which is an existing BCB customer, will become the company’s strategic partner through this transaction.
As part of the deal, the two parties will collaborate to further facilitate additional fiat rails and crypto services to their customers.
The partnership also enables them to expand their offerings globally, launching crypto on and off ramps in new markets.
The latest deal comes on the heels of BCB’s appointment of MoonPay chief growth officer Zeeshan Feroz as an adviser in February.
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Commenting on the development, BCB founder and CEO Oliver von Landsberg-Sadie saud: “We are delighted to have received MoonPay’s support at this vital stage of our growth journey.
“MoonPay’s market leading expertise and insight will be invaluable as we continue to transform crypto payment services.”
BCB offers accounts and payments processing for clients including Coinbase, Bitstamp, Gemini, Huobi, Galaxy, and Kraken.
In March, the firm completed a funding round to support upcoming initiatives.
The initiatives include BCB Treasury to enable companies to invest in bitcoin as a treasury asset, BCB Yield Accounts and BCB Wealth Partners, which will offer a crypto service for private wealth clients.
MoonPay CEO and founder Ivan Wright noted that BCB’s payment and banking solutions align with the firm’s vision to level the financial playing field.
Wright commented: “We are looking forward to working closely alongside the BCB team as they continue their impressive growth and together work to build an inclusive and efficient crypto-economy.”
MoonPay, which supports over 80 cryptocurrencies and over 30 fiat currencies, counts Trust Wallet, Bitcoin.com, and ZenGo among its partners.
The firm claims to have processed over one million transactions to date across more than 160 countries globally.