Japanese Financial Firm SBI Acquires Crypto Trading Firm B2C2
December 16, 2020 7:20 pm
Japanese financial giant SBI has acquired another crypto company adoption to the industry. SBI Financial Services, a subsidiary of SBI Holdings, has taken over United Kingdom-based crypto trading firm B2C2. On Dec. 16 SBI announced, it has purchased a 90% stake in B2C2, making it a subsidiary.
B2C2 was founded in 2015, and it is one of the world’s most popular crypto trading companies for institutional investors, with offices in the United States, Japan, and the U.K. As per the announcement, B2C2’s team in Japan will move into SBI’s offices. He also expects B2C2 to add up to 20 new employees following the acquisition.
Through the new acquisition, both SBI and B2C2 aim to bring more trading opportunities for mainstream financial firms that are looking forward to investing in crypto. Yoshitaka Kitao, president and CEO of SBI Holdings, said that B2C2’s vision and expertise complement SBI’s.
“We look forward to working in partnership as we expand our footprint across the global markets.”
Max Boonen, founder and CEO of B2C2, indicated that Bitcoin’s (BTC) new all-time highs recorded in 2020 have once again proved that crypto assets are “not negligible in the financial industry.”
“Crypto-assets can have an increasing impact on the financial market in the next decade and we are proud to be at the forefront of this evolution in SBI.”