#What Is Happening with B2C2?
B2C2, recognized as one of the premier institutional crypto market makers globally, is currently engaged in negotiations with several potential buyers. This development suggests an impending shift in ownership for a firm that has established itself as a critical component in the infrastructure of digital asset markets.
Based in London, B2C2 has successfully facilitated over $2 trillion in trading volume since its establishment in 2015. The company is now contemplating a capital raise of up to $200 million, which could significantly reduce the substantial 90% ownership stake currently held by the Japanese financial giant, SBI Holdings.
#Why Has the Ownership Discussion Gained Attention?
The topic of ownership has been brewing for several months. Initially, in April 2025, it was reported that SBI was considering the sale of a minority stake in B2C2, valued at approximately $100 million. However, SBI unequivocally denied any intentions to sell at that time. After acquiring a $30 million minority stake in July 2020, SBI's interest in B2C2 grew exponentially, reaching nearly full ownership by December of that same year.
A sharper way to see the markets in just 5 minutes.
Same news, different lens. We cut through the noise and hand you the overlooked ideas and the deeper read the crowd misses. Join 38,000+ investors seeing the markets differently.
#Why Is B2C2 Considered a Key Player in the Crypto Market?
What sets B2C2 apart is its global operation, with offices across major financial hubs including the United States, Japan, Singapore, France, and Luxembourg. In October 2025, B2C2 introduced a new platform named PENNY, which enables instant stablecoin swaps without any fees. Furthermore, in May 2026, B2C2 Europe achieved MiCA CASP authorization from Luxembourg’s CSSF, marking it as the first worldwide OTC liquidity provider to comply with the EU's comprehensive crypto regulatory framework.
#What Impact Could This Have on the Broader Market?
As these discussions unfold, competitors such as Cumberland, Galaxy Digital’s trading desk, and Wintermute will undoubtedly be monitoring the situation closely. The outcome of B2C2's negotiations and potential capital raise could significantly influence market dynamics and investor strategies moving forward.