PARTNER CONTENT
B2C2’s crypto-native technology combined with an innovative range of products, makes the firm the partner of choice for diverse institutions globally. Group CEO Thomas Restout outlines some of the current challenges in the digital assets space and how regulation will improve institutional confidence…
In no more than 50 words, please describe your firm’s service offering and what makes it special.
B2C2 is a global leader in institutional liquidity for digital assets. Backed by Japanese financial services provider SBI, we provide deep, reliable pricing across market conditions. With high levels of trust, an extensive regulatory footprint and appropriate credit, we help our clients access the crypto market with confidence and reliability.
What forces – in Europe and/or globally – do you anticipate having the biggest impact on your business over the next 12 months?
As a relatively new industry, regulation is front of mind for all crypto-native businesses. Europe’s Markets in Crypto-Assets Regulation (MiCA) is providing important guidelines for digital assets firms, which we believe will create tailwinds for the industry in Europe. Similarly in Asia, we are seeing many countries follow Japan’s lead in recognizing cryptocurrencies as legitimate forms of money or investments and regulating them as such. By supporting market integrity and stability, these regulations will help build institutional confidence in the market and encourage greater participation.
How are you preparing for the above?
While our firm is born out of crypto-native technology, B2C2’s management has extensive trad-fi experience. We have always been leaders in building a resilient, sustainable digital assets market and have worked closely with regulators since our inception. We are active members of FIA and ISDA, as well as CryptoUK, a self-regulatory trade association that brings together industry leaders and members of the UK government.
This past year, we have worked to expand our already strong regulatory footprint, ensuring that we can continue to provide our clients with industry-leading service globally. In August 2023, we acquired Woorton, Europe’s leading market maker and co-founder of the Association for the Development of Crypto-Assets (ADAN), a French initiative to maintain dialogue between regulators and the industry. In January 2024, we became the 12th virtual asset service provider to officially register on the Commission de Surveillance du Secteur Financier’s (CSSF) public register in Luxembourg, enabling us to offer our OTC spot crypto services to institutional clients in the country. Soon after, we joined the Luxembourg Bankers’ Association (ABBL), fostering further partnership with financial institutions and regulators.
Most recently, we expanded our presence in the APAC region with the establishment of a Singapore headquarters. We are in the process of applying for Major Payment Institution licence under the Monetary Authority of Singapore. The establishment of this Singapore business affirms B2C2’s commitment to the broader region and, as one of the market’s leading participants, to supporting Singapore in building a robust, compliant digital assets market.
What has been the most significant change you’ve observed in the global crypto industry in the past 12 months?
The industry has clearly matured in the past year. We have seen this in obvious ways such as with the issuance of crypto ETFs by top tier asset managers and the proliferation of tokenization projects from many leading financial institutions. The market structure has become more segregated, mirroring the development of traditional financial markets. There is still a gap between the trad-fi world, whose focus is necessarily on the long-term stability of their firms, and the crypto-native companies that are driving innovation and optimisation. In the next year, I believe we will see further partnership between crypto-native firms and traditional institutions as clearer regulatory frameworks open new synergetic opportunities.
Thomas Restout, Group CEO, B2C2 – Prior to joining B2C2, a global leader in institutional liquidity for digital assets, Thomas was Global Head of Macro Electronic Trading at Morgan Stanley, leading strategy, product innovation, and execution across a broad range of disciplines, assets, and trading protocols. Amongst his responsibilities, he was a member of the Morgan Stanley Securities Digital Currencies working group and spearheaded Crypto trading for the Fixed Income division. Thomas Restout was previously at Goldman Sachs and began his career at Natixis.
