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B2C2 Strengthens Asia-Pacific Presence with New Singapore Office

Finance Magnates

Cryptocoins News / Finance Magnates 48 Views

B2C2, a cryptocurrency market maker owned by Japan’s SBI Holdings, has opened a new Singapore office and will apply for a Major Payment Institution (MPI) licence in the city-state. Announced today (Monday), the move comes as the company is set to strengthen its presence in the Asia-Pacific region, labelling it as a “growth phase.”

Betting on the Growing Asia-Pacific Markets

The Singapore office is an addition to its existing physical presence in London, Paris, Luxembourg, New Jersey, and Tokyo.

“As a leading financial centre both in the region and globally, Singapore was a logical choice for the expansion of our APAC

footprint,” said Thomas Restout, Group CEO of B2C2.

B2C2 already has a strong grip in Asia-Pacific due to its presence in Japan. At the end of 2020, the company was acquired by Japanese giant SBI Holdings, only five months after the conglomerate invested $30 million in the crypto company.

The London-headquartered firm entered the European Union last year by acquiring the French market-making firm Woorton. This allowed B2C2 to operate in the 27-country bloc with Woorton’s PSAN licence issued by the AMF. To expand its presence in continental Europe, it further obtained a virtual asset service provider registration in Luxembourg.

Recently, Swissquote tapped B2C2 to enhance cryptocurrency trading liquidity on its Swissquote Exchange (SQX).

A Veteran to Lead the Expansion

David Rogers, B2C2's CEO of Asia-Pacific, will lead the company's operations from its Singapore base. Rogers is a financial industry veteran with 24 years of experience in digital assets and traditional finance. Some of the prominent companies he worked at were State Street, Goldman Sachs, and UBS.

Rogers's appointment to oversee the Asia-Pacific operations of the London-headquartered company was also strategic, as he had worked in the region for 17 years.

“The firm’s strong balance sheet, unparalleled settlement capability, and extensive pricing and credit capabilities make it the leading counterparty of choice for financial institutions globally,” Rogers said. “With an already very strong APAC team, we will augment this in Singapore, which is on track to be an international hub for regulated digital asset trading. We are excited to work with regulators and partners to grow this ecosystem.”

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