B2C2 has been officially registered as the 12th virtual asset service provider (VASP) on the public register of the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg. This registration marks a step forward in B2C2's expansion efforts, as the company has previously catered to a diverse clientele across the Americas, Asia-Pacific, and EMEA regions. With this regulatory approval, B2C2 aims to capitalise on the opportunities presented by Luxembourg's digital asset market.
The VASP registration enables B2C2 to offer over-the-counter (OTC) spot crypto services to institutional clients and supports a continous collaboration within the digital asset ecosystem. Additionally, it opens doors for partnerships with local VASPs, traditional financial institutions, and other market participants.
This development follows B2C2's acquisition of Woorton from August 2023, which was reported by blockworks.co. By purchasing the Paris-based digital assets liquidity provider, B2C2 signalled its commitment to expanding its presence in the EU ahead of the Markets in Crypto-Assets Regulation (MiCA) implementation.
The acquisition, for an undisclosed sum, granted B2C2 access to a PSAN license regulated by France's financial regulator AMF, enabling the provider to facilitate crypto trading across the EU. With this move, B2C2 aimed to expand its client base beyond its domestic market and strengthen its presence abroad. However, the acquisition was not anticipated to impact B2C2's strategy or offerings in the Asia-Pacific and US markets.
In return, Woorton, serving nearly 250 clients trading various digital assets, stood to benefit from access to a more robust liquidity pool and an enhanced market presence, according to the company.
In the official press release, representatives from B2C2 talked about the Luxembourg VASP registration and described it as a significant step towards regulatory compliance, particularly in a jurisdiction witnessing rapid growth in the virtual asset community. The Head of Luxembourg at B2C2 expressed enthusiasm for leading the company's operations in Luxembourg and pledged to contribute to the local digital asset ecosystem.
B2C2 is a company that leverages crypto-native technology and continuous product innovation to facilitate institutional access to crypto with reliable liquidity across market conditions. Founded in 2015 and majority-owned by the Japanese financial group SBI, B2C2 Ltd is headquartered in the UK, with offices in the US and Japan.
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