SBI Holdings Denies Plans to Sell B2C2 Stake
A recent report by Bloomberg suggested that SBI Financial Services, a division of SBI Holdings, was considering selling a $100 million stake in its crypto subsidiary, B2C2. However, SBI Holdings has denied these claims.
According to Bloomberg, SBI was reportedly in discussions with potential buyers. But an SBI spokesperson quickly refuted the report, stating that the company has no plans to sell. B2C2 also declined to comment.
SBI Holdings first invested in B2C2 in July 2020,acquiring a minority stake for $30 million. This move was part of a strategic partnership to improve cryptocurrency services for millions of customers. By December 2020, SBI had fully acquired B2C2, becoming the first major financial group to operate a digital asset dealing desk.
As then, B2C2 has grown its presence in the crypto market. In August 2023, it acquired Woorton, a French market-making firm. This acquisition gave B2C2 regulatory licenses to operate in the European Union, enhancing its services for institutional clients.
SBI Holdings remains a key player in the digital asset space. The company has collaborated with blockchain firms and invested in various crypto projects, showing its commitment to the evolving digital economy.
