Yesterday B2C2, a UK-based cryptocurrency institutional market maker, announced it was acquired by SBI Financial Services, an SBI Holdings subsidiary.
Following a July investment of $30 million for a minority stake, SBI has increased its stake to 90% after gaining clearance from the UK’s Financial Conduct Authority (FCA). Apart from the UK, B2C2 has a presence in the United States and Japan and also offers derivatives.
As an over-the-counter (OTC) liquidity provider, most of B2C2’s clients are regulated brokerages, exchanges, banks and fund managers.
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