Cryptocurrency market maker and liquidity provider, B2C2 has promoted the head of its US business, Nicola White, as the group’s new chief executive officer.
Ms White, the former chief operating officer of fixed income at Citadel Securities, has originally joined the firm in July 2021 as president of B2C2 USA. Her promotion aims to leverage her track record in developing electronic solutions for institutional markets to enhance B2C2’s capabilities as a full service liquidity provider.
Prior to B2C2, White spent five years at electronic trading firm Citadel Securities and nearly 13 years within Morgan Stanley’s fixed income division. At Citadel Securities, she was global COO of the FICC business, tasked with leading the firm’s fixed income institutional market-making business strategy.
“I knew we made a strong hire when Nicola joined the New Jersey office in 2021. Earlier this year I supported her promotion within B2C2’s leadership. The next twelve months in the crypto market will not be for the faint of heart and I am glad to have Nicola with us as we embark on an aggressive effort of market share expansion,” said Max Boonen, Co-Founder & Director of B2C2
The new CEO takes over from Phillip Gillespie, who steps down to focus on a ventures role with SBI. Gillespie, who was instrumental to the acquisition of B2C2 by SBI, was an executive director at Goldman Sachs’ London office, where he had been a foreign exchange dealer for three years.
B2C2 offer a similar experience to FX trading
B2C2 is one of the largest OTC brokers/market makers in the crypto space and provides related liquidity services. Founded in 2015 and headquartered in London, the privately held company advertises its offering as a solution that bridges the gap between traditional financial and cryptocurrency markets.
B2C2’s offering allows clients to take positions in the underlying OTC markets with a greater focus on offering a similar experience to trading on traditional FX platforms.
B2C2, which was fully acquired by Japanese financial conglomerate SBI Holdings in 2020, expanded its offering beyond crypto to include 24/7 FX trading. B2C2’s clients can view and execute their trades on a real-time two-way market through a point-and-click interface and also monitor live pricing in defined quantities.
SBI already uses B2C2’s liquidity to support its clients trading cryptocurrencies while B2C2 reportedly plans to tap SBI’s resources to support a full prime brokerage service for both crypto and other asset classes.
This brought in further trading and portfolio management functionality to the London-based cryptocurrency liquidity provider’s customer base, with the possibility for further integrations in the future.