The Japanese financial holding SBI Holdings has acquired the cryptocurrency over-the-counter (OTC) platform B2C2, aimed at institutional clients.
Looking forward to working alongside SBI to implement our vision for the future of financial markets 💪#crypto #fintech #innovation #banking #cyptofinancehttps://t.co/7f53sVUrGj
— B2C2 (@B2C2Group) December 15, 2020
In July 2020, the financial conglomerate said it had bought a minority stake in B2C2 for $30 million. SBI clients gained access to the OTC platform, and representatives of the latter reported a fourfold increase in OTC trades and a tenfold rise in daily volumes.
The new deal was carried out through SBI Financial Services, a subsidiary. The financial terms have not been disclosed.
B2C2 has operated since 2015 and markets itself as the oldest market-maker in the cryptocurrency market for institutions. In 2019 the company obtained authorization to operate bitcoin derivatives from the UK Financial Conduct Authority.
Earlier in October, SBI Holdings acquired the cryptocurrency exchange TaoTao, which became part of the SBI Liquidity Market subsidiary.
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