London crypto market maker B2C2 wins FCA approval
B2C2 OTC Limited, a cryptocurrency market maker, has received regulatory approval from UK’s Financial Conduct Authority, to deal in cryptocurrency Contracts for Difference (CFDs).
The company, which is based in London and is a subsidiary of B2C2, one of the largest cryptocurrency liquidity providers in the world, will now be able to offer clients exposure to cryptocurrency markets via its over-the-counter CFDs.
“We are excited to have received authorisation from the FCA to introduce a cryptocurrency CFD product”, said Max Boonen, Founder and CEO of B2C2.
“Eligible counterparties and professional clients can now gain derivative exposure to the cryptocurrency markets, benefiting from the competitive pricing and liquidity they’re accustomed to receiving from B2C2 while avoiding the risks associated with crypto custody.”
The move will be seen as further evidence of efforts by the UK regulatory system to support the growth of the cryptocurrency market.
The global market in cryptocurrency trading has proved a roller coaster ride over the past year. Valuations for major digital currencies such as Bitcoin and Ethereum have soared and plummeted in equal measure.
Founded in 2015, B2C2 is one of the most experienced cryptocurrency trading firms, a market leader in CFDs and the first to offer a native electronic OTC desk, according to industry website, Cryptodigest.