(Rejected) Japanese Financial Giant SBI Group Acquires UK-Based B2C2 to Enhance Crypto Adoption

Through its subsidiary SBI Financial Services, SBI Group has acquired a 90% stake in B2C2, a leading UK-based cryptocurrency assets company. The Japanese financial giant seeks to use this acquisition to boost the development of innovative services and products in the crypto space.

Expanding global crypto outreach 

B2C2 is expected to bring on the table its cutting-edge risk management methods, liquidity, and global network as the SBI Group continues to target different customers, such as institutional investors, corporations, and individuals. 

Last month, the SBI Group revealed its intention to borrow a minimum of 0.1 Bitcoin (BTC) to a maximum of 5 BTC from holders at an annual interest rate of 1% with the minimum lending period being 84 days. This move was aimed at transforming the crypto lending sector, which has suffered from counterparty risks like bankruptcy and defective smart contracts.

Yoshitaka Kitao, the president and CEO of SBI Group, acknowledged:

“B2C2 is a company with world-class products and services, excellent technology, and excellent customer base in the crypto asset industry, and is highly regarded worldwide. We are confident that our services will generate good synergies with the SBI Group. We look forward to expanding our business in the global market in collaboration with the company.”

Cryptoassets are no longer negligible

According to Maxim Boonen, B2C2’s CEO, the recent record-breaking moves made by Bitcoin has brought back the crypto sector to the limelight because it is no longer in oblivion. He noted:

“The record high of Bitcoin this month has once again proved that the existence of crypto assets is not negligible in the financial industry. Our collaboration with SBI is proceeding smoothly and our customers are already beginning to benefit from it. We believe that crypto assets can have an ever-increasing impact on the financial market over the next decade and we are proud to be at the forefront of this evolution.”

With the new acquisition, SBI Group seeks to be at the forefront of benefiting from the lucrative crypto sector, especially at a time when institutional investors’ interest is going through the roof in this industry. For instance, earlier this month, they pumped a whopping $429 million into crypto funds and products in a single week.