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B2C2 Secures EU Presence with VASP Registration in Luxembourg

Finance Magnates

Cryptocoins News / Finance Magnates 18 Views

B2C2, a cryptocurrency market-maker owned by Japan’s SBI Holdings, has expanded its presence in continental Europe by registering as a virtual asset service provider (VASP) in Luxembourg. It has become the 12th company to receive the crypto registration in the country.

Paving the Way into the EU

The authorization by the country’s Commission de Surveillance du Secteur Financier will allow the London-headquartered company to offer over-the-counter (OTC) spot crypto services to institutional clients. It will further enable the company to collaborate with local VASPs, traditional financial institutions, and other market participants.

“As B2C2 prepares for MiCA regulation to come to force, obtaining VASP registration in Luxembourg is a further milestone for B2C2, as Luxembourg is home to a rapidly expanding virtual asset community,” stated Thomas Restout, who was promoted to the position of Group CEO, last month.

B2C2 was acquired by Japanese giant SBI Holdings at the end of 2020, only five months after the conglomerate invested $30 million in the crypto company. The company already has a diverse client base across the Americas, Asia-Pacific, and EMEA regions.

The London-headquartered firm entered the European Union last year by acquiring French market-making firm Woorton, which allowed B2C2 to operate in the 27-country bloc with Woorton’s PSAN license issued by the AMF.

New Head of Luxembourg

Further, to bolster its operations under the new European Union registration, the company has appointed Denzel Walters, Business Manager in B2C2’s London office, as the Head of Luxembourg. Before joining B2C2, he worked with two top UK regulators, the Bank of England, the Prudential Regulatory Authority

Restout highlighted information about the role: “With his regulatory knowledge and proven experience delivering exceptional growth at B2C2, [Walter] will ensure clients in Luxembourg receive a seamless operational and trading experience.”

Walters said: “In line with our operations in the UK, US, and Asia-Pacific, our office in Luxembourg will remain committed to providing unparalleled liquidity and exceptional service to our clients.”

This article was written by Arnab Shome at www.financemagnates.com.
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