London-based crypto financial services firm BCB Group has suspended a planned U.S. dollar payments program after regulators shut down Signature Bank.
Oliver von Landsberg-Sadie, founder and CEO of BCB Group, said that as part of a limited pilot program, the company already had six existing customers ready to test the system and executed the first US dollar transaction on March 10; but BCB Group relied on Signature Bank (which was seized by state regulators today) to support the program, which means that these services must now be suspended until a new partnership is established. BCB Group's other currency payment products continue as usual. (The Block)