The cryptofinance firm XBTO is partnering with Bermuda Commercial Bank to transform XBTO’s American dollar payment infrastructure.

XBTO announced the new relationship with BCB on their LinkedIn page yesterday.

“Starting now, all Bermuda-based clients will be assigned dedicated virtual bank accounts for USD on-ramps and off-ramps,” an XBTO spokesman said. “This move brings institutional-grade efficiency to your daily operations.”

On ramping is the process by which dollars are turned into cryptocurrency and off ramping is the opposite.

“There will be no more generic beneficiary names,” XBTO said. “You now have your own dedicated bank account details. This provides your originating bank with the transparency they require, significantly de-risking the wire transfer process and reducing manual flags.”

They will also be leveraging BCB’s infrastructure to remove the bottlenecks of traditional settlement.

“Your capital moves at the speed of the modern market,” XBTO said. “The firm will also offer enhanced fund segregation.”

Enhanced fund segregation refers to a higher standard of protection for client assets held by financial institutions, ensuring they are not just separated from the firm’s operating capital, but also protected from the firm’s insolvency.

“Fully segregated virtual accounts align with the highest standards of asset protection,” XBTO said. “This is another step forward in our commitment to building the most robust, institutional-grade infrastructure in digital assets.”