B2C2 Builds in Europe with Woorton Acquisition
Posted by Colin Lambert. Last updated: August 25, 2023
Digital assets trading firm B2C2 has completed what it terms a “strategic move” in finalising the acquisition of European crypto market maker Woorton.
B2C2 says the deal has one eye on the incoming MiCA (Markets in Crypto Assets Regulation) regulations, and means it will have the opportunity to service clients in the EU jurisdiction as well as unlocking client growth opportunities outside the United Kingdom, Asia-Pacific and the US.
The acquisition grants B2C2 access to Woorton’s PSAN (prestataires de services sur actifs numériques) License, regulated by the AMF (Autorité des Marchés Financiers), authorising it to operate inside the EU.
B2C2 says Woorton supports an active client base of nearly 250 clients trading 96 coins and 24/7 liquidity provision, adding the business has strong ongoing regulatory engagement and is a co-founder of ADAN (Association for the Development of Crypto-Assets), a new initiative to maintain a dialogue between the digital asset industry and policymakers. It is also an active participant in drafting the regulatory framework applied to digital assets in France.
“In joining forces with B2C2 we bring together the complementary strengths of our two firms,” says Charlie Meraud, CEO of Woorton. “With a stronger combined platform, our customer base will enjoy access to a more robust liquidity pool and an improved market presence.“
Nicola White, CEO of B2C2, adds, “This acquisition is an important milestone in the ongoing journey of B2C2’s growth and evolution. We welcome joining forces with Woorton’s expert team who, with their collective experience, have built a first-rate digital assets market making firm supported by a robust client base and strong regulatory standing. We are excited about the possibilities that this acquisition unlocks for B2C2 and our client base in the EU.”
Finally, Thomas Restout, head of EMEA at B2C2, says, “Woorton is an innovative and forward-thinking firm which has an excellent cultural fit withB2C2 and with shared values, risk frameworks, operational practices. Like us, the team has a TradFi background but with the same crypto and digital assets laser focus. Together we are a combination of highly complementary businesses that deliver multi asset breadth and depth to clients in the EU market.”