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According to PANews news on June 15, according to The Block, digital asset trading company BCB Group will no longer acquire financial institution Sutor Bank. Sutor Bank withdrew its agreement to sell its stake to BCB Group after "careful analysis and consideration" by both parties, according to an emailed statement. Citing “recent banking market events and macroeconomic changes,” the BCB said it would focus more on its European strategy by applying for an e-money license in France and set out to capture and service demand for U.S. dollar payment channels.


BCB Group first announced plans to acquire Sutor Bank in December 2021. Terms of the deal were not disclosed, but it said it would provide a "substantial capital injection".
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