According to a news statement, London-based liquidity provider B2C2 has purchased French market maker Woorton in a deal that gives B2C2 access to Woorton’s regulatory licenses and permits it to operate in the EU.Thanks to Woorton’s PSAN (prestataires de services sur actifs numériques) license, which is governed by the AMF (Autorité des Marchés Financiers), B2C2 can now provide its services to the institutional market in the European Union.
“Like us, the [Woorton] team has a TradFi background, but with the same crypto and digital assets laser focus. Together we are a combination of highly complementary businesses that deliver multi asset breadth and depth to clients in the EU market,” Thomas Restout, head of EMEA at B2C2, said in the statement.
Woorton will merge its clientele and over-the-counter (OTC) services with B2C2 in order to boost total crypto market liquidity, which has become a hot topic in the current bear market after U.S. trading companies Jane Street and Jump recently declared they will be decreasing crypto trading activity.SBI Holdings, a Japanese financial organization, acquired B2C2 in 2020, making it the first significant financial organization to own a crypto trading business.