Japanese financial group SBI has acquired a cryptocurrency trading platform for an undisclosed amount
SBI Financial Services, a subsidiary of SBI Holdings, announced Monday that it has acquired U.K.-based cryptocurrency services firm B2C2, a leading organization known for operating its own digital asset trading desk. The Japanese financial services group did not disclose the purchase price for the B2C2 platform.
According to Reuters, both companies expressed optimism about the partnership and expect it to encourage more large financial institutions to invest in cryptocurrencies. SBI said that with the acquisition of B2C2 it becomes the first major financial group to operate a dedicated digital asset dealing desk.
The collaboration between SBI and B2C2 began several months ago, when SBI bought a minority stake in the exchange in July. That investment allowed SBI clients to access trading through B2C2’s desk.
Founded in 2015, B2C2 has become one of the United Kingdom’s prominent cryptocurrency trading firms. It supports exchanges, brokers and fund managers in executing large-scale crypto trades and providing liquidity across digital asset markets.
Yoshitaka Kitao, president and CEO of SBI Holdings, praised B2C2’s progress and capabilities, saying: “Their vision, expertise and offering complement SBI’s, and we look forward to partnering to expand our presence in global markets.”
SBI’s goal is not to dominate Asia or Europe; instead, the financial services group plans to work with B2C2 to broaden its digital trading services worldwide. SBI’s global expansion comes as more institutional investors purchase bitcoin and other digital assets, often viewing them as hedges against inflation.
Max Boonen, B2C2’s founder, said the company’s Japan-based team will continue operating from SBI’s office following the acquisition. Boonen also noted that B2C2 plans to increase its headcount from 50 to around 70 employees to support a larger client base.
SBI has been pursuing strategic moves to become a leading player in the cryptocurrency sector. The group has collaborated with Boerse Stuttgart Group, Germany’s second-largest exchange group, to expand crypto-related services.
Although cryptocurrencies have existed for more than a decade, they have recently attracted growing institutional attention. Major financial institutions are increasingly entering the market to offer a variety of services to both institutional and retail clients as demand for digital asset solutions rises.