Cryptocurrency liquidity provider B2C2 has announced the appointment of Peter Nielsen, Ruth Wandhöfer and Phil Weisberg to its advisory board.
Nielsen was previously CEO of markets in the investment bank at RBS. Prior to RBS, he spent 10 years at Bank of America and Citibank in their FX businesses. Weisberg founded FXall and became global head of Thomson Reuters FX business when the company bought FXall – while Wandhöfer is a regulatory and fintech expert. Managing director and global head of regulatory and market strategy at Citi.
B2C2, a cryptocurrency market maker, has announced the appointment of Phillip Gillespie as CEO of B2C2 Japan. Effective January 29, Gillespie will lead the company’s operations in Tokyo.
He joins from Goldman Sachs where he oversaw the FX G10 business for EMEA as part of the systematic market making team. Previously, he was an FX voice and systematic trader at Barclays and JP Morgan.
“I am very pleased to welcome Phillip as CEO of B2C2 Japan,” says Max Boonen, B2C2 founder. “His expertise in the FX market will be a great asset as we ramp up our business in Japan and the Asia Pacific region more broadly.”
Uncertainty about regulations, a lack of trusted custodians and concerns about security are key factors that continue to deter many large financial institutions from trading cryptoassets, says Kevin Beardsley, a managing partner at B2C2.
Amongst these three factors, Beardsley cited the lack of regulatory clarity around cryptoassets as the biggest issue for these firms right now, pointing out that no major bank wants to clash with their regulators for trading in what is, relatively speaking, still a small marketplace.
“The large institutions are all waiting for the regulations to become clear, which is a very rational approach,” he says.
At the start of 2017, a single bitcoin was valued at less than $1,000, yet by mid-December it had almost hit $20,000. Investors were pouring into the space, Initial Coin Offerings (ICOs) were being launched left, right and centre and - given the limited supply of bitcoins that can ever exist - some market commentators were making wild predictions about how high the value of this asset would ultimately go.
But despite starting the year at around the $15,000 mark, the price of bitcoin has fallen to $6,671 at the time of writing and other major cryptocurrencies have suffered a similar decline. So what went wrong?
B2C2, a cryptocurrency market maker, and oneZero Financial Systems, a software and infrastructure provider for institutional and retail brokers, have announced a partnership that will enable oneZero’s clients to gain access to B2C2 as part of the oneZero ecosystem.
The firms say that the integration of their trading systems will allow them to address significant demand among institutional clients for exposure to the major cryptocurrencies – including bitcoin, ether, litecoin, bitcoin cash and XRP – against major fiat currencies.
Max Boonen, founder of B2C2, says: “We are pleased to partner with oneZero, a leading technology and infrastructure provider for major financial institutions. Our FIX integration will enable oneZero’s clients to access cryptocurrency liquidity in a plug-and-play fashion. We look forward to meeting their demand for electronic OTC liquidity.”
Crypto trading and risk management platform provider Caspian, has partnered with B2C2, the cryptocurrency market maker and liquidity provider, in a move that the firms claim, “makes life much easier for larger investors wanting to increase their exposure to cryptocurrency markets”.
The firms says the partnership is “significant: because of the liquidity that larger investors require if they are to move further into cryptocurrency markets. While Caspian provides a suite of tools designed to make accessing and trading these different markets much more easy, B2C2 is experienced in providing the OTC liquidity that this type of investor requires, they add.