B2C2, a cryptocurrency market maker largely owned by Japanese firm SBI Holdings, has been in discussions with multiple companies about a potential acquisition for the last year and a half, sources say.
Negotiations have stalled over disagreements about the company’s worth, according to two sources who aren’t authorized to discuss the private matter publicly.
Sources say the London-based company is hoping to be valued at over $1 billion, but achieving this would be challenging with the current state of the cryptocurrency market.
The company has been discussing a possible sale – either partial or complete – but it’s currently unknown if those discussions are still happening.
A representative from B2C2 didn’t offer a statement. SBI also didn’t respond to our request for comment before we published this story.
B2C2, established in 2015, helps institutions like banks, exchanges, and hedge funds easily buy and sell cryptocurrencies. They use their own advanced technology to offer consistently available trading options around the clock for various types of digital asset transactions – including immediate purchases (spot), futures, customized products, and direct deals between parties.
The cryptocurrency market has faced challenges throughout the year due to lower trading activity, economic worries, and investors becoming more cautious. This difficult environment has particularly impacted market makers, who rely on high trading volumes and providing liquidity to generate revenue. Because fewer people are actively trading, companies in the crypto industry are seeing their profits decrease.
Industry experts predict that mergers and acquisitions will continue to be a major trend in 2026. Digital asset companies are likely to join forces to grow bigger, offer more services, and satisfy the increasing interest from larger institutions.
Companies like exchanges, firms that facilitate trades, secure storage providers, and fintech companies are buying other businesses to create all-in-one digital asset services. This trend shows the cryptocurrency world is becoming more established, with increasing involvement from institutions and stricter regulations.
In December 2020, SBI Financial Services—part of SBI Holdings—bought a 90% share of B2C2, following an earlier investment of $30 million.
B2C2 doesn’t publish its financial results independently; instead, they are included in the overall crypto-asset business figures for SBI. For the year ending March 31st, this part of SBI’s business brought in ¥89.6 billion (about $550 million) in revenue – a 10.9% increase from the previous year. Profit before taxes remained steady at ¥21.2 billion.
Last month, SBI Holdings announced a deal to purchase the cryptocurrency exchange Bitbank for approximately $289 million.
B2C2 considered seeking up to $200 million in funding from outside investors last year. This move would have enabled SBI, a current stakeholder, to lessen its ownership share and given B2C2 more money to expand its business.
2026-07-24 14:54