Japanese investing giant SBI takes $30 million stake in crypto trader B2C2

Quick Take

  • A Japanese investing giant has taken a $30 million stake in crypto market maker B2C2
  • The deal comes as the trading firm looks to the ever-growing market for crypto prime brokers
  • This month, B2C2 will expand its services to span automated financing and execution — the first step in its prime journey, the company says 

Count this as the latest sign that the market for crypto prime brokers is overheating. 

On the heels of a new partnership with Japanese investing giant SBI Holdings, crypto market-making firm B2C2 has announced plans to expand its business to cover a range of services that it says would bring it closer to becoming a crypto prime broker. The move follows a flurry of prime broker-related news from firms like BitGo, Coinbase and Genesis Global Trading. 

Among the oldest operating market-makers in the digital asset space, B2C2 is best-known for helping large investors execute multi-million dollar trades over-the-counter. This month, the UK-based firm will roll out new automated financing services to complement its existing execution services.

At the same time, SBI Holdings will take a $30 million stake in the firm, offering access to its balance sheet. SBI Securities is Japan's largest online stock trading companies.

In traditional finance, prime brokers sit between institutional investors and the market, offering an array of services, including custody, execution and consulting. Market participants have long said that the addition of prime brokerage services to the crypto market could lure institutional investors from the sidelines. Prime brokers, in theory, make the trading and investing exper