B2C2, a cryptocurrency market-maker owned by Japan’s SBI Holdings, has solidified its presence in continental Europe by securing registration as a virtual asset service provider (VASP) in Luxembourg.
This move marks the company as the 12th to receive such recognition in the country.
Endorsed by Luxembourg’s Commission de Surveillance du Secteur Financier, this authorization empowers the London-based entity to extend over-the-counter (OTC) spot crypto services to institutional clients.
Moreover, it facilitates collaboration with local VASPs, conventional financial institutions, and other market participants.
Thomas Restout, recently promoted to Group CEO, commented, “As B2C2 prepares for MiCA regulation to take effect, obtaining VASP registration in Luxembourg signifies a significant milestone. Luxembourg boasts a swiftly expanding virtual asset community.”
SBI Holdings acquired B2C2 at the close of 2020, a mere five months after injecting $30 million into the crypto firm.
With an existing diverse clientele spanning the Americas, Asia-Pacific, and EMEA regions, B2C2 is strategically positioned for further growth.
Having entered the European Union last year through the acquisition of French market-making firm Woorton, B2C2 gained access to operate across the bloc’s 27 countries under Woorton’s PSAN license issued by the AMF.
To fortify its operations under the new European Union registration, the company has appointed Denzel Walters, formerly a Business Manager in B2C2’s London office, as the Head of Luxembourg.
Walters brings a wealth of experience from his tenure with two esteemed UK regulators, the Bank of England and the Prudential Regulatory Authority.
Restout emphasized Walters’ role, stating, “With his regulatory expertise and track record of driving exceptional growth at B2C2, Walters will ensure clients in Luxembourg receive a seamless operational and trading experience.”
Walters affirmed, “Aligned with our operations in the UK, US, and Asia-Pacific, our presence in Luxembourg underscores our commitment to delivering unmatched liquidity and service excellence to our clients.”