Japanese SBI Acquires B2C2 Crypto Firm
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Dec. 15, 2020
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SBI Holdings' financial subsidiary, SBI Financial Services, has acquired a cryptocurrency trading firm called B2C2, the company announced.

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Hence, SBI Financial Services will become the first financial group to run a cryptocurrency dealing desk. B2C2 says the acquisition positions SBI at "the center of the cryptocurrency markets."

SBI Holdings' President and CEO, Yoshitaka Kitao, says that the UK-based cryptocurrency firm has "an exceptional reputation for its world-class products and services, superb technology and valuable client base."

"Their vision, expertise and offering complement SBI’s, and we look forward to working in partnership as we expand our footprint across the global markets," Kitao added.

B2C2 is a regulated cryptocurrency firm based in the UK, which mainly serves as an OTC market maker, risk manager, and liquidity provide. In November 2020, SBI Group announced the launch of a Bitcoin lending service through its subsidiary SBI VC Trade.

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The new service, dubbed VC Trade Lending, allows SBI users to obtain a 1% interest rate including taxes for lending their cryptos to SBI.

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