B2C2 Held Sale Talks With Multiple Potential Buyers

B2C2, the crypto market maker owned by Japan’s SBI Holdings, provides liquidity and trading services to institutional participants in digital-asset markets. A potential sale would underscore the consolidation taking shape as the crypto industry matures, with larger financial and trading groups seeking scale, technology and deeper access to institutional clients.

B2C2 held acquisition talks with several potential buyers over the past 18 months, according to reports, but negotiations stalled over valuation. The company was seeking a sale price of more than $1 billion. No transaction has been announced, and the identities of the prospective buyers and a timetable for any renewed discussions have not been disclosed.