B2C2 Breaks New Ground with ISDA Primary Membership

Another sign of the growing maturity of the crypto industry has come with news that trading firm B2C2 is to become a primary member of the International Swaps and Derivatives Association (ISDA).

The move is potentially significant because ISDA, which has led the way in establishing legal frameworks in broader financial derivatives markets, has recently turned its attention to crypto derivatives, and specifically the need for contractual standards in these products. ISDA also works closely with existing global regulators and is engaging on the still fluid and evolving regulatory landscape in digital assets markets – work that B2C2 will, presumably, become more heavily involved in under the ISDA auspices.

B2C2 has a couple of landmark “firsts” in this area, in 2019 it was the first firm to introduce a crypto-specific ISDA Master Agreement, meaning institutional clients could operate under a legal standard with which they were already familiar (as opposed to the Digital Asset Purchase Agreement used previously). The firm was also the first European firm to receive a MiFID licence for its derivatives business, and followed that up by executing the first crypto NDF trade late last year.

“At B2C2 we provide a safe, efficient and resilient framework for institutional firms seeking to participate in the fast-growing crypto asset class,” says Nicola White, president of B2C2 USA. “We are delighted to now be a part of ISDA and look forward to helping our clients advance their capabilities in crypto derivatives, a market segment with huge potential.”