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Japanese bank SBI Holdings acquired market maker B2C2

Japanese bank SBI Holdings acquired market maker B2C2

SBI Financial Services has bought the British cryptocurrency platform B2C2. SBI plans to become the first major financial group to launch a digital asset operations division.

As reported by
Reuters, SBI Financial Services, a subsidiary of Japanese group SBI Holdings, has acquired British cryptocurrency market maker B2C2. The transaction amount was not disclosed. B2C2 was founded in 2015 and helps brokers, exchanges and fund managers make large transactions with crypto assets.

SBI has been allowing its clients to trade via the B2C2 platform since July this year, after buying a minority stake in the cryptocurrency company.

“B2C2’s vision, expertise and offerings complement SBI’s vision, and we look forward to working together as we expand our presence in global markets,” said Yoshitaka Kitao, President and CEO of SBI Holdings.

As part of the acquisition, the B2C2 team in Japan will move to the SBI office and grow from 50 to 70 people in the coming months.

Recall that in November, SBI Holdings, through its SBI VC Trade division, launched a
new service-issuing loans in bitcoins. In early October, SBI Holdings completed the acquisition of the TaoTao cryptocurrency exchange.