Fireblocks (www.fireblocks.com), an institutional platform for storing, transferring, and issuing digital assets, announced today that B2C2, the largest cryptocurrency liquidity provider and leader in electronic OTC trading, is employing Fireblocks to protect billions of dollars in digital asset value and provide security for more than 10,000 OTC trades daily.
Utilizing Fireblocks’ API, B2C2 now securely and instantly executes large value settlements with its institutional clients. B2C2 enlisted Fireblocks to add an efficient, digital asset security infrastructure to its best-in-class liquidity offering.
“Since implementing Fireblocks, we’ve had some of our best months in terms of increasing trading volume,” said Founder and CEO of B2C2, Max Boonen. “By connecting our back- and middle-office systems to Fireblocks’ API, we have multiplied our settlement throughput with an extremely lean team. That operational efficiency translates into tighter spreads and lower balance sheet consumption for both our clients and ourselves, contributing to a more efficient market.”
Founded in 2015 and headquartered in London, with offices in the United States and Japan, B2C2 was voted 2019 Best Institutional Crypto Liquidity Provider by the readers of Profit & Loss. Trusted by retail brokerages, exchanges, banks, and fund managers to provide 24/7 liquidity, the company was one of the first professional firms to make markets electronically in cryptocurrencies.
Together, B2C2 and Fireblocks are exploring new ways to help facilitate and secure the flow of crypto liquidity around the world. B2C2’s first initiative is a partnership offering Freemium Fireblocks Workspaces to all of their customers.
“We’ve smashed our bottleneck thanks to the security and speed we’ve been able to achieve with Fireblocks’ Secure Transfer Environment. Now, we want to remove all the credit congestion downstream for our clients as well,” said Robert Catalanello, CEO of B2C2 USA.
Onboarding customers into the Fireblocks ecosystem mitigates operational risks from the settlement process, including cyberattacks by hackers, internal fraud, and human error. B2C2 customers will receive a complimentary, pre-configured account with one network connection available (B2C2), as well as a wallet to withdraw funds after settlement.
“We’ve long been convinced that our defense-in-depth approach around wallet and settlement security directly improves operational flow,” said Michael Shaulov, CEO and Co-Founder of Fireblocks. “We are excited to support B2C2 with unlocking the capital constraints in the crypto market.”
Founded in 2015, B2C2 is the largest cryptocurrency liquidity provider and the leader in electronic OTC trading. Named 2019 Best Institutional Crypto Liquidity Provider by the readers of Profit & Loss, B2C2 bridges the gap between traditional financial and cryptocurrency markets. The company is trusted by retail brokerages, exchanges, banks, and fund managers to provide 24/7 liquidity. Headquartered in the UK, with offices in London, Jersey City, and Tokyo, the firm is privately held. B2C2 OTC Ltd. is authorised and regulated by the UK’s Financial Conduct Authority (FRN: 810834).