Japan’s SBI Financial Services, the subsidiary of <a href="https://www.cryptoknowmics.com/news/sbi-holdings-planning-to-set-up-blockchain-based-digital-stock-exchange/">SBI Holdings</a>, is opening a cryptocurrency dealing desk after <a href="https://www.bloomberg.com/press-releases/2020-12-15/japanese-powerhouse-sbi-becomes-world-s-first-financial-conglomerate-to-open-cryptocurrency-dealing-desk-by-acquiring" target="_blank" rel="nofollow noopener">acquiring</a> liquidity provider B2C2. The deal comes shortly after SBI Financial’s minority stake in B2C2 in July this year. The move is the latest example of how crypto and traditional financial markets are taking advantage of the best of both worlds.
<h2><b>SBI Financial Services Acquire B2C2</b></h2>
B2C2 is the first choice as a trading counterparty in the institutional crypto markets. The UK-based firm is one of the largest OTC brokers/market makers in the cryptocurrency space. The company was founded in 2015 to bridge the gap between traditional finance and the cryptocurrency markets.

Max Boonen, founder, B2C2, said:

<em>"With Bitcoin hitting an all-time high this month, it is dawning on everyone in finance that crypto is here to stay. The timing could not be better for SBI, a financial conglomerate admired for its farsightedness, who is not simply dipping in but opening a new chapter for the industry."</em>

B2C2 is reportedly planning to take absorb SBI’s services to offer prime brokerage services for cryptocurrencies as well as other asset classes. This will help in bringing trading and portfolio management to B2C2’s customers with a possibility for further integrations in the future.

B2C2 will allow clients to take positions in the OTC markets with a greater emphasis on providing similar services to traditional financial platforms.
<h2><strong>SBI Already Uses B2C2’s Liquidity Support</strong></h2>
SBI is already using B2C2’s liquidity support to support its clients trading cryptocurrencies. However, the recent acquisition is the latest crypto dabbling from SBI.  In fact, last month, one of its units started offering its clients the option to lend their Bitcoin holdings.

Yoshitaka Kitao, President and CEO of SBI Holdings, said:

<em>“B2C2 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.”</em>

SBI is notably known for investing in Ripple and Boerse Stuttgart's digital assets business.

SBI Financial Services Acquire Crypto Trading Desk B2C2

Japan’s SBI Financial Services, the subsidiary of SBI Holdings is opening a cryptocurrency dealing desk after acquiring liquidity provider B2C2.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

SBI Financial Services Acquire Crypto Trading Desk B2C2

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