Sources say crypto market maker B2C2 is trying to raise $200 million.

On July 17, according to CoinDesk citing sources, cryptocurrency market maker B2C2, 90% owned by SBI Holdings, is seeking to raise more funds from external investors. According to people familiar with the matter, the London-based company plans to raise up to $200 million, and because the matter has not been made public, the person said that some of the funds will be used to help Tokyo-based SBI Holdings reduce its 90% stake.

B2C2 declined to comment. As of press time, SBI Holdings has also not responded to requests for comment.

SBI Financial Services, a subsidiary of SBI Holdings, acquired 90% of London-based B2C2 in December 2020, after the company first invested $30.00 million in July of the same year.