With the crypto market once again seeing major positive advances, the crypto business seems to be developing faster than ever. New partnerships are announced daily, and one of them has just allowed more than 200,000 traders and funds access to much greater liquidity.
The partnership in question was announced between B2C2 — over-the-counter liquidity provider — and the industry-leading prime dealer, SFOX.
As some may know B2C2 is a London-based 24/7 liquidity provider for a number of cryptocurrencies, including BTC, ETH, XRP, BCH, LTC, and ETC. It provides liquidity in USD, EUR, GBP, AUD, JPY, SGD, CHF, CAD, and other currencies. In other words, the company is converting large quantities of digital cryptocurrencies into fiat currencies for its institutional clients, including exchanges, brokerages, banks, crypto funds, as well as high-net-worth individuals traders across the globe.
The significance of the new partnership
Now, thanks to the new partnership, the company’s reach will increase significantly, adding 200,000 more businesses and individuals to its list of potential clients. The company’s CEO, May Boonen stated that the partnership enables a broader set of market participants who can reach B2C2’s real-time OTC pricing.
Boonen also said that the situation with cryptocurrencies is becoming more and more similar to the FX markets, which are almost entirely OTC. In other words, the digital asset class is mostly trading off-exchange, which brings deeper liquidity and tighter spreads.
SFOX commented on the move as well, stating that its own clients will be able to benefit from the new source of OTC liquidity. On top of that, they will also enjoy greater price discovery.
B2C2 is also rather well-known for trading tens of billions of dollars in the last five years since it opened. Now, it says that its market-making tech, alongside its OTC model, has the ability to mitigate some of the fragmented tradings on dozens of different exchanges. As a result, the trading environment is more efficient and inviting for new investors.