B2C2, a London-based crypto liquidity provider, has paved its way toward Europe by acquiring the French market-making firm, Woorton. Announced today (Thursday), the acquisition will allow B2C2 to operate in the European Union with Woorton’s PSAN (prestataires de services sur actifs numériques) license issued by France’s AMF (Autorité des Marchés Financiers).
B2C2 Enters Europe with an Acquisition
As mentioned in the official press release, the deal was strategic as B2C2 is focused on enhancing its client coverage and cementing its position in Europe ahead of the enforcement of MiCA (Markets in Crypto Assets Regulation) regulations.
"This acquisition is an important milestone in the ongoing journey of B2C2's growth and evolution," said the CEO of B2C2, Nicola White. "We welcome joining forces with Woorton's expert team who, with their collective experience, have built a first-rate digital assets market-making firm supported by a robust client base and strong regulatory standing. We are excited about the possibilities that this acquisition unlocks for B2C2 and our client base in the EU."
The Two Platforms Will Combine Forces
Woorton was founded in 2017 and now has about 250 clients. It provides support to 96 cryptocurrencies with round-the-clock liquidity provisioning.
B2C2, which is one of the largest over-the-counter (OTC) brokers/market makers in the crypto space and provides related liquidity services, will enhance its reach by combining client base and OTC services with Woorton. BSBI Holdings, Japan's financial conglomerate, acquired B2C2 a few years ago, and it has been held by them since December 2020.
"In joining forces with B2C2, we bring together the complementary strengths of our two firms," Charlie Meraud, the CEO of Woorton, said. "With a stronger combined platform, our customer base will enjoy access to a more robust liquidity pool and an improved market presence. We will better support our clients in providing the best liquidity and trading experience in digital assets."
This article was written by Arnab Shome at www.financemagnates.com.
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