A bitcoin trading firm that's taking calls about $50 million deals just made 3 big appointments
- B2C2, a UK-based bitcoin trading firm, appointed three finance veterans to its board.
- The firm hopes the appointments will help "bridge the gap" between the crypto-world and traditional finance.
UK-based bitcoin trading shop B2C2 thinks of itself first and foremost as a capital markets firm, not a crypto-company.
And the firm's board appointments Tuesday represent that identity with which they want to be associated.
B2C2, an over-the-counter trading firm for cryptocurrency markets, announced three finance veterans, including Citigroup's global head of regulatory, market and innovation strategy, were joining its advisory board to help "bridge the gap" between traditional finance and the nascent world of cryptocurrencies.
"I am delighted to welcome Peter Nielsen, Ruth Wandhöfer and Phil Weisberg to the B2C2 advisory board," Max Boonen, B2C2 founder, said. "Leaders in their field, their expertise and extensive network of industry contacts will be of immense value to B2C2 as we rapidly expand our business."
Boonen, a former interest rate swaps trader at Goldman Sachs who founded B2C2 in 2015, told Business Insider over-the-counter bitcoin trade sizes have increased this year as interest in cryptocurrencies from institutional clients has increased.
As such, larger million-dollar trades are more common at B2C2 than they were when the company was founded, according to Boonen. Kevin Beardsley, a managing director at the firm, previously told Business Insider that the firm had gotten a call for a $50 million trade.
"I look forward to working with B2C2 at a time of intense innovation and evolving regulation in both traditional and new financial markets," Ruth Wandhöfer, one of the board appointees, said. "Robust infrastructure is essential to the smooth functioning of these markets and I think that B2C2's ability to provide seamless execution and settlement is a game changer."
Wandhöfer heads up regulatory, market and innovation strategy for Citigroup in the UK.
Peter Nielsen, a former CEO of markets at Royal Bank of Scotland, is also joining the board along with Phil Weisberg, the founder of FXall, a foreign exchange platform.