Japanese financial giant SBI has completed another cryptocurrency-related acquisition in a move to bring more adoption to the industry. SBI Financial Services, a subsidiary of SBI Holdings, has acquired United Kingdom-based crypto trading firm B2C2. According to an official Dec. 16 announcement, SBI has purchased a 90% stake in B2C2, making it a subsidiary. The acquisition was completed on Dec. 15, the announcement notes.
With the new acquisition, both SBI and B2C2 intend to bring more trading opportunities for mainstream financial firms looking to invest in crypto. Yoshitaka Kitao, president and CEO of SBI Holdings, said that B2C2’s vision and expertise complement SBI’s. “We look forward to working in partnership as we expand our footprint across the global markets,” Kitao noted.