SBI Financial Acquires Institutional Crypto Desk B2C2

SBI Financial Services has acquired cryptocurrency trading platform B2C2, according to a report.

AccessTimeIconDec 15, 2020 at 5:14 p.m. UTC
Updated Sep 14, 2021 at 10:43 a.m. UTC

SBI Financial Services has acquired cryptocurrency trading platform B2C2, Reuters reported Monday.

  • The Japanese firm said it will leverage B2C2's crypto rails for mainstream financial institutions.
  • Reuters reports that SBI Holdings is now the first major financial firm to own a crypto desk.
  • SBI acquired a $30 million minority stake in B2C2 this summer. It has been offering clients access to B2C2's trading portal ever since.
  • SBI subsidiaries have shown a penchant for crypto projects including security token offerings and digital asset exchange partnerships. The group offers shareholder payouts in XRP.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC