In a strategic move to bolster its European Union footprint, B2C2, the London-based liquidity provider, has recently achieved a significant regulatory milestone by obtaining a virtual asset service provider (VASP) license in Luxembourg. This development marks a key expansion for the firm, which is already operational in France following its acquisition of Paris-based Woorton in August of the previous year.
The approval granted by Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) enables B2C2 to provide institutional clients with over-the-counter (OTC) spot cryptocurrency services, positioning the company as the twelfth VASP registered on the CSSF’s public ledger. This achievement underscores B2C2’s commitment to compliance and its ambition to be at the forefront of the evolving regulatory landscape in the European Union.
The timing of B2C2’s expansion is particularly noteworthy as it coincides with the European Union’s final preparations to enact the Markets in Crypto Assets (MiCA) regulation. This groundbreaking legislation will establish the EU as the first major global entity to introduce a comprehensive and bespoke regulatory framework for the cryptocurrency sector, signifying a significant step forward in the legitimization and oversight of virtual assets.
Leading the charge for B2C2’s Luxembourg operations is Denzel Walters, a former Bank of England supervisor, demonstrating the firm’s dedication to regulatory excellence and industry leadership. Additionally, the recent appointment of Thomas Restout as CEO last month reflects B2C2’s ongoing strategic renewal and leadership fortification.
Thomas Restout, commenting on the achievement, highlighted the importance of Luxembourg in the company’s expansion strategy, especially in anticipation of the MiCA regulation. “Securing the VASP registration in Luxembourg represents a critical advancement for B2C2, especially given Luxembourg’s vibrant and growing virtual asset ecosystem,” Restout stated. This move not only strengthens B2C2’s regulatory standing but also aligns with its vision to lead in the provision of crypto services to institutional clients across the European Union.
As the EU moves closer to implementing MiCA, B2C2’s proactive steps to align with regulatory expectations underscore the company’s commitment to providing secure and compliant crypto services, reinforcing its position as a trusted partner in the institutional crypto market.
