Japanese banking and securities giant SBI Holdings has had a bullish year in crypto – and it isn’t done with 2020 yet. The firm has announced its first meaningful overseas crypto acquisition deal, snapping up the UK-based crypto liquidity provider and brokerage B2C2 for an undisclosed sum.
In a press release, SBI Financial Services, a subsidiary of parent company SBI Holdings, claimed it had sealed the deal to make it the “world’s first financial conglomerate to open a cryptocurrency dealing desk” by acquiring what it called a “pioneering liquidity provider.”
The move is about as aggressive as they come – particularly considering the fact that SBI moved to buy a USD 30m minority stake in B2C2 a mere six months ago.
SBI operates a number of crypto-related subsidiaries, including its own domestic crypto exchange, SBI VC Trade, and the mining firm SBI Crypto.
The deal also marks the first time a high-profile Japanese firm has outright bought a European crypto firm.
SBI claimed that its partnership with B2C2 had already proven exceptionally fruitful, explaining,
“We look forward to working in partnership [with B2C2] as we expand our footprint across the global markets.”
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