[NEWS] SBI subsidiary B2C2 acquires French rival Wootton with an eye on expanding into the EU

B2C2, a London-based cryptocurrency market maker under the SBI Group, announced on the 24th that it has acquired its competitor, Woorton, a French company.

The acquisition price has not been disclosed.

Woorton is an influential company in market making and over-the-counter trading in the European digital asset market.

According to the announcement, the acquisition was made in anticipation of the comprehensive cryptocurrency regulation MiCA, which will come into effect in 2024. Through Woorton, B2C2 will be able to use the license granted by the French AMF (Agency for Financial Markets) to provide services to customers not only in London but also in the EU.

Founded in 2017, Woorton supports approximately 250 institutional investors trading 96 types of crypto assets. It also participated in the drafting of a regulatory framework for digital assets in France.

Wootton CEO Charlie Meraud said, "By joining forces with B2C2, we can combine the strengths of both companies. By providing a stronger platform, our clients will have access to stronger liquidity and a stronger market presence."

B2C2 CEO Nicola White said the acquisition will be an important milestone for the company, and said, "We are excited about the possibilities it will bring to B2C2 and our EU clients."

B2C2 joined the SBI Group in July 2020 when SBI Financial Services, a subsidiary of SBI Holdings, acquired shares in the company.

Reference:Announcement
Image: Quoted from the announcement