B2C2 seeks a valuation of over $1 billion, having negotiated with multiple potential acquirers over the past 18 months

According to CoinDesk, B2C2, a crypto market maker in which SBI Holdings holds a 90% stake, has been in acquisition negotiations with several potential buyers over the past 18 months.

The negotiations have been affected by valuation differences. B2C2 is seeking a transaction price of over $1 billion, and a source indicated that this price is difficult to achieve in the current crypto market environment.

Founded in 2015, B2C2 provides deep liquidity for spot, derivatives, structured products, and OTC trading for banks, exchanges, brokerages, hedge funds, and asset management companies. SBI acquired a 90% stake in B2C2 in 2020. B2C2's financial data has not been disclosed separately and is included in SBI's crypto business segment.