Crypto Market Maker B2C2 Aims for $200M Mega-Raise—Wall Street Finally Wakes Up to Digital Assets

B2C2—the liquidity powerhouse that's been quietly propping up crypto markets since 2015—is making a power play. The firm's courting investors for a $200 million war chest, signaling institutional money's accelerating FOMO.

Why now? Because even traditional finance dinosaurs are realizing: you either embrace crypto liquidity or get left behind. The raise comes as market makers become the unsung heroes of the digital asset ecosystem—providing the grease that keeps trading wheels spinning while hedge funds pretend they invented 'alpha'.

One City insider quipped: 'They'll raise it in crypto terms—$200M today, $400M tomorrow if Bitcoin sneezes.' Because in this market, even your fundraising gets leveraged.

SBI Holdings Drives B2C2’s Global Expansion Under FCA Regulation

SBI Holdings has played a key role in the growth of B2C2, which has expanded its presence with offices across London, the U.S., and Japan, and operates under FCA regulation.

In its full-year financial results published in May, SBI credited the revitalization of the crypto market following the inauguration of former President Trump as a significant factor driving B2C2’s expansion.

Earlier reports suggested SBI was contemplating selling part of its stake in B2C2 in a deal valued around $100 million, though the company denied those claims at the time.

The planned capital raise underscores B2C2’s ambitions to strengthen its market position amid an increasingly competitive crypto landscape.

London-based crypto market Maker B2C2 is looking to raise up to $200 million, partly to allow SBI Holdings to reduce its 90% stake. SBI first invested in B2C2 in July 2020 and took a 90% stake that December.https://t.co/7X03uQH7Jq

In February last year, B2C2 secured a VIRTUAL asset service provider (VASP) registration, expanding its operations to Luxembourg ahead of new rules being implemented in Europe.

At the time, the firm stated that it had officially become the twelfth VASP to be registered on the Commission de Surveillance du Secteur Financier’s (CSSF) public register in Luxembourg.

B2C2 operates across the Americas, Asia-Pacific and EMEA regions. In 2023, the market maker acquired Paris-based rival firm Woorton in a bid to expand its European presence.

Crypto Venture Capital Surges in Q2 2025

Venture capital investment in the crypto sector rebounded strongly in Q2 2025, with companies raising a total of $10.03 billion, the highest quarterly figure since Q1 2022.

June was the standout month, pulling in $5.14 billion, signaling renewed investor appetite after months of stagnation.

Top fundraises included Strive Funds’ $750 million raise in May, focused on Bitcoin-related strategies, and TwentyOneCapital’s $585 million in April.

Other notable companies securing capital were Securitize, Kalshi, Auradine, ZenMEV, and Digital Asset, highlighting growing interest across diverse crypto projects.

Coinbase Ventures dominated investment activity with 25 deals in Q2, followed by Pantera Capital, Animoca Brands, Andreessen Horowitz, and Galaxy.

Dealmaking was widespread across blockchain infrastructure and DeFi sectors, while categories like CeFi, NFTs, and GameFi saw moderate funding.

Seed-stage deals made up the largest portion of fundraising rounds, indicating strong early-stage interest, followed by strategic rounds and mergers and acquisitions.

Series A and incubation rounds accounted for smaller shares, reflecting a diverse funding landscape as the crypto ecosystem continues to mature.