Japanese investment giant SBI has just announced it has invested $30M in the British crypto liquidity provider B2C2, The Block has reported.
According to B2C2, after reaching this agreement the company plans to expand its business and cover a wide range of services with the aim of becoming a prime broker.
B2C2 is a market maker that allows investors to make multi-million dollar trades in the over-the-counter (OTC) market.
In traditional markets, prime brokers such as B2C2 act as intermediaries between institutional investors and the market, offering a wide variety of services such as custody, execution and consulting. Thus, the arrival of this type of company to the crypto market could attract institutional investors, who are used to working with this type of service.
B2C2 will become SBI's main provider of crypto liquidity as the firm expands its own crypto offering to millions of its clients.
iHodl reported a few days ago SBI plans to roll out a crypto fund with 50% in XRP.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.