B2C2 Launches Crypto Asset Options And Lending Services

London-based cryptocurrency market maker B2C2 will launch options trading and crypto-asset lending in mid-2021. Product demand will be driven by SBI’s institutional clients.

According to the B2C2 statement, the market maker will soon launch new services – options trading and cryptocurrency lending. B2C2 currently offers fiat trading for a range of cryptocurrencies as well as CFDs. According to the company, increased client demand for “more sophisticated hedging instruments” has led to a decision to expand its business.

The company hired Brad Nagela to lead the new direction. Previously, he held senior foreign exchange management positions at Citi, Bank of America and Societe Generale, as well as hedge fund BlueCrest Capital Management. In addition, Nagela worked at Powerblockcoin, where he created a risk management system for cryptocurrency options, futures, swaps and spot trading.

“We think we can immediately provide liquidity to some of the largest institutional investors,” Nagela said.

The key element for the options offering will be the new B2C2 lending platform, which was launched earlier this year. Last month, the company launched time deposits that allow institutional clients to generate income from their crypto assets. Most recently, B2C2 introduced a secured lending product that allows customers to borrow money backed by cryptocurrency.

“Basically, we are going to create something similar to the complete set of products that corporate and institutional clients have in investment banks. And we will be able to leverage SBI’s customer base to immediately get many customers who own cryptoassets, ”Nagela said.

As a reminder, SBI Financial Services bought the British B2C2 cryptocurrency platform in December last year. SBI then announced that it plans to become the first major financial group to launch a digital asset operations division.

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