SBI, $30 million investment in a crypto company

The crypto liquidity provider B2C2 announced that the giant SBI has made a $30 million investment in its company.

SBI Holding has been providing financial services in various sectors such as banking, insurance and so on for decades and, over time, has become a conglomerate of various companies and banks.

And, with this investment in a crypto company, SBI will be able to expand to the other side of the world, as stated by the CEO of SBI Holding, Yoshitaka Kitao:

“We expect a lot of synergies with B2C2, a firm which has a large number of clients globally and offers abundant liquidity, excellent price competitiveness, and a diverse suite of products for their customers. We will work to develop innovative new crypto products and deepen synergies across our group of companies.”

SBI’s crypto investment

As far as B2C2 is concerned, the company was founded in 2015 and has been awarded several prizes as the best liquidity provider

It is based in the UK and operates throughout the world, particularly chosen by institutional investors. 

B2C2 founder Max Boonen said:

“Today’s deal with SBI takes B2C2 a big step forward. Having claimed the top spot in our segment thanks to the technological edge of our single dealer platform, we found in SBI the right partner to unlock the next drivers of our growth. B2C2 will benefit from SBI’s balance sheet, which is far larger than anything committed to the crypto market to date. It will complement our asset liability management framework – the most sophisticated in the market – to deliver an execution platform that will not only be a game changer in crypto, but also positions us to expand across asset classes as we set our sights on the $20bn-a-year prime brokerage market”.

We are seeing more and more interest from institutions towards investing in the blockchain and crypto world.

It should also be noted that SBI is known to be pro-Ripple (XRP) and uses several systems developed by the company, such as Ripple Remittance.


Source: https://en.cryptonomist.ch/2020/07/01/sbi-investment-crypto-company/