B2C2
B2C2 is a market maker/liquidity provider which helps clients trade in cryptocurrency.[1] In the 2022 Crypto Trading Report by global management consultancy Price Waterhouse Coopers (PwC), B2C2 was listed as the leading market dealer, or counterparty in crypto-currency.[2] B2C2’s clients include global banks, fund managers, agency over-the-counter (OTC) trading desks, family offices, foreign exchange brokers and hedge fund managers [3]
In March 2022, B2C2 became the first principal-at-risk crypto trading firm to join ISDA[4] and in the same month it was also given associate membership to the Futures Industry Association (FIA).[5]
The headquarters are in London, with offices in Japan and the United States. Nicola White, formerly of Citadel Securities is CEO of B2C2 US.[6][7] Japan’s CEO is Phil Gillespie, who was appointed from Goldman Sachs,[8] and Thomas Restout EMEA CEO who is ex- Morgan Stanley.[9]
B2C2 has been owned by Japanese financial group SBI since 2020.[10]
Founding and history
B2C2 was founded in 2015 by Max Boonen, a former trader at Goldman Sachs, and Flavio Molendini, an IT consultant from Cognitics [11].
In 2019 B2C2 was authorised by the United Kingdom's Financial Conduct Authority to deal in cryptocurrency contracts for difference (CFDs).
In the same year B2C2 added new web-based functionality to its business, similar to platforms used when trading traditional foreign exchange. This was created to make it easier for investors to understand trading in cryptocurrency. [12]
In November 2021, B2C2 launched bitcoin non-deliverable forwards (NDFs), which lock in an exchange rate for a period of time, to make the first cryptocurrency trade with QCP Capital, a Singapore based digital asset trading company. The new product was designed to pave the way for traditional financial institutions to enter the cryptocurrency market.[13]
References
- ↑ "Battle for dominance heats up in cryptocurrency trading". Financial Times. 2022-01-06. Retrieved 2022-11-02.
- ↑ PricewaterhouseCoopers. "Crypto Trading Report 2022". PwC. Retrieved 2022-11-02.
- ↑ "Home | B2C2". www.b2c2.com. Retrieved 2022-11-02.
- ↑ "B2C2 joins International Swaps and Derivatives Association as primary member - The TRADE". www.thetradenews.com. Retrieved 2022-11-02.
- ↑ Lambert, Colin (2022-03-21). "B2C2 Joins FIA". The Full FX. Retrieved 2022-11-02.
- ↑ "B2C2 Appoints Nicola White as US CEO". Financial and Business News | Finance Magnates. Retrieved 2022-11-02.
- ↑ Irrera, Anna (2021-07-26). "Cryptocurrency broker B2C2 hires Citadel Securities fixed income exec". Reuters. Retrieved 2022-11-02.
- ↑ Newlands, Chris. "Goldman FX trader joins cryptocurrency broker". www.fnlondon.com. Retrieved 2022-11-02.
- ↑ Chan, Jeremy. "Morgan Stanley's Thomas Restout joins crypto firm B2C2 as Emea CEO". www.fnlondon.com. Retrieved 2022-11-02.
- ↑ Irrera, Anna (2020-12-15). "Japanese financial group SBI acquires cryptocurrency trading firm B2C2". Reuters. Retrieved 2022-11-02.
- ↑ Williams-Grut, Oscar. "Meet the 35 most exciting young entrepreneurs, engineers, and advisors in UK fintech". Business Insider. Retrieved 2022-11-02.
- ↑ "B2C2 Adds OTC Pricing, Point-and-Click Execution | Finance Magnates". Financial and Business News | Finance Magnates. Retrieved 2022-11-02.
- ↑ Basar, Shanny (2021-11-11). "Execution of Crypto NDF 'Monumental' for Institutions". Markets Media. Retrieved 2022-11-02.
External links
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