- B2C2 recently revealed plans to become a crypto prime broker.
- This is an ambitious task — one which the firm plans to achieve through a partnership with Japan's SBI.
- SBI also revealed that it plans to take a $30 million stake in B2C2.
B2C2, a crypto market-making company, recently revealed plans to expand its business and include an entire range of new services. The company sees the move as a large step towards its major goal, which is to become a crypto prime broker.
B2C2 wants to become a crypto prime broker
Becoming a crypto prime broker seems to be a new, emerging trend in the crypto industry. In other words, B2C2 is far from being the first one to announce such plans.
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However, while it may be one of the oldest still active market makers in the crypto industry, meeting the requirements needed for becoming a prime broker is not so simple. and B2C2 needed a strong partner to help it achieve this goal. This is why it recently partnered with Japan-based investing giant, SBI Securities.
Following the announcement of B2C2’s plans, SBI had its own revelation to publish, revealing that it plans to take a $30 million stake in B2C2. By doing so, it will offer access to its balance sheet,
Does the firm have what it takes?
It is not surprising that B2C2 aims big for the future, especially considering that the firm was rather successful in providing its services so far. It has worked with multiple large investors, helping them execute OTC trades worth millions of dollars.
In addition, it also plans to launch new automated financing services in about a month. In doing so, the firm will be on its way towards mirroring the traditional finance’s prime brokers, which maintain their spot between the market and institutional investors.
Such entities have been missing from the crypto industry, and some speculate that they could inspire larger institutional investors to join the crypto industry.
While many have come up with plans to create prime businesses in the crypto sector — which certainly makes for a competitive landscape — B2C2 is not without advantages.
It has good technology, a large client base, abundant liquidity, and strong partners, including SBI. It takes a lot to become a winner in this kind of market, but one of the biggest parts of prime broker offerings is trust, and B2C2 has proven to be a trustworthy firm.