Crypto market maker B2C2 has spent the past 18 months in acquisition talks with several potential buyers, but discussions have been held back by a gap in valuation expectations. According to CoinDesk, the firm is seeking a deal price above $1 billion, a level that one person familiar with the matter said is difficult to achieve in the current crypto market environment. B2C2 is 90% owned by SBI Holdings, which bought its stake in 2020. Founded in 2015, the company provides deep liquidity across spot, derivatives, structured products and OTC trading for banks, exchanges, brokerages, hedge funds and asset managers. Its standalone financials have not been disclosed and are instead included within SBI’s broader crypto business segment.
Crypto market maker B2C2, which is 90% owned by SBI Holdings, has held acquisition talks with several potential buyers over the past 18 months, according to a CoinDesk report cited by BlockBeats on July 24.
The talks have been affected by differences over valuation. B2C2 is seeking a price of more than $1 billion, and one person familiar with the matter said that level is hard to reach in the current crypto market environment.
Founded in 2015, B2C2 provides deep liquidity in spot, derivatives, structured products and over-the-counter, or OTC, trading. Its client base includes banks, exchanges, brokerages, hedge funds and asset management firms.
SBI acquired a 90% stake in B2C2 in 2020. The company does not disclose standalone financial figures, with its results folded into SBI’s crypto business segment.
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