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SBI Financial Acquires Institutional Crypto Desk B2C2
SBI Financial Services has acquired cryptocurrency trading platform B2C2, according to a report.
By Danny Nelson
Updated Sep 14, 2021, 10:43 a.m. Published Dec 15, 2020, 5:14 p.m. 1 min read
SBI Financial Services has acquired cryptocurrency trading platform B2C2, Reuters reported Monday.
- The Japanese firm said it will leverage B2C2's crypto rails for mainstream financial institutions.
- Reuters reports that SBI Holdings is now the first major financial firm to own a crypto desk.
- SBI acquired a $30 million minority stake in B2C2 this summer. It has been offering clients access to B2C2's trading portal ever since.
- SBI subsidiaries have shown a penchant for crypto projects including security token offerings and digital asset exchange partnerships. The group offers shareholder payouts in XRP.
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From May 20 to May 29, XRP funds took in $35 million while bitcoin and ether ETFs lost roughly $2 billion combined, with Ripple’s earlier reported XRP treasury plan still awaiting confirmation.
What to know:
- U.S.-listed spot XRP ETFs drew $11.88 million in net inflows on May 29, extending a week of gains even as bitcoin and ether funds saw continued redemptions.
- Total net assets in U.S. XRP ETFs now stand near $1.12 billion, with about $35 million added since May 20 while bitcoin and...
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