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SBI Group, one of the largest financial services firms in Japan, has acquired crypto market-making firm B2C2.

The deal, first reported by Reuters, comes several months after the Japanese firm acquired a minority stake in the UK-based B2C2, which earlier this year said it would expand its business into so-called prime brokerage services. 

Since the summer, SBI has been providing its clients access to B2C2’s platform. 

As reported previously by The Block, B2C2 has been leveraging its relationship with SBI to lure some of Japan’s largest conglomerates into the market. 

Although terms of the deal were not disclosed, the companies said they hope the deal will “create the counter-party of choice for mainstream financial firms looking to invest in cryptocurrencies,” according to Reuters.

“B2C2 has an exceptional reputation for its world-class products and services, superb technology and valuable client base. Their vision, expertise and offering complement SBI’s, and we look forward to working in partnership as we expand our footprint across the global markets,” SBI Holdings CEO Yoshitaka Kitao said in a statement.

Founded in 2015, B2C2 is among the largest cryptocurrency market-making firms and is known for being a pioneer in electronic trading in the market. 

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