- Japanese SBI Holdings plans to reduce its stake in the B2C2 crypto unit.
- The firm bought a minority stake in the B2C2 market maker in 2020.
Japanese financial conglomerate made it to the headlines today as the information regarding its plans to sell a minority stake in B2C2 crypto unit surfaced. Bloomberg reported that people familiar with the matter, who wish to stay anonymous, revealed the news.
SBI Financial Services Inc. is an affiliate of SBI Holdings Inc., and it is planning to sell a portion of its shares it holds in the B2C2 crypto firm. This deal could be valued at $100 million, as per anonymous sources.
Another person from the firm confirmed that the company is going to sell all of its shares in B2C2. Even after the sale, both companies will remain strategic partners. The prospect of buying shares in B2C2 seems to attract strong interest from potential buyers.
Surprisingly, another spokesman from SBI Holdings said there are no plans as such to sell shares of B2C2. Adding confusion to the matter, a B2C2 representative declined to comment on whether SBI is planning to sell B2C2’s shares or not.
SBI Holdings Inc. Holds Stake in B2C2 For the Past 5 Years
Japanese SBI Holdings announced its interest in purchasing shares of B2C2 in 2020 for $30 million. B2C2 is a UK-based cryptocurrency market maker firm that provides liquidity to banks, exchange platforms, and hedge funds.
Both firms planned to mutually benefit from each other through this partnership. B2C2 benefited from SBI’s resources to expand its services, while SBI leveraged B2C2’s market liquidity.
The reason behind its intention to sell a portion of its B2C2 stake is unknown for the time being. Nonetheless, the two notable firms would continue maintaining their partnership for the future.
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