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March 10, 2022

B2C2 is the first principal-at-risk crypto trading firm to become a Primary Member

LONDON and JERSEY CITY, March 10th 2022 - B2C2, the counterparty of choice in the institutional crypto market, today announced that it has joined the International Swaps and Derivatives Association (ISDA) as Primary Member, a category that includes 200+ global institutions trading derivatives. 

Established in 2015, B2C2 is a crypto-native liquidity provider, with 450+ active institutional clients in 50+ countries.  The vast majority of agency OTC desks, FX brokers, aggregators, banks and hedge funds rely on B2C2 to provide principal liquidity across market conditions.  The firm provides a full service offering across spot, funding and derivative products with 24/7/365 global coverage and client support.

From the outset, B2C2 has sought to bring greater transparency, efficiency and best practice to the crypto market. In 2019, B2C2 was first to introduce a crypto-specific ISDA Master Agreement to replace the Digital Asset Purchase Agreement in use, providing clients with the gold standard legal framework under which to trade.  In the same year, B2C2 was first to launch electronic pricing and execution; and was the first European firm to receive a MiFID regulatory licence for its derivatives business.  Continuously innovative, in 2021 B2C2 traded the first-ever crypto non-deliverable forward (NDF).

Nicola White, President of B2C2 USA, said: “At B2C2 we provide a safe, efficient and resilient framework for institutional firms seeking to participate in the fast-growing crypto asset class.  We are delighted to now be a part of ISDA and look forward to helping our clients advance their capabilities in crypto derivatives, a market segment with huge potential.”  

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About ISDA

Since 1985, ISDA has worked to make the global derivatives markets safer and more efficient. Today, ISDA has over 970 member institutions from 77 countries. These members comprise a broad range of derivatives market participants, including corporations, investment managers, government and supranational entities, insurance companies, energy and commodities firms, and international and regional banks. In addition to market participants, members also include key components of the derivatives market infrastructure, such as exchanges, intermediaries, clearing houses and repositories, as well as law firms, accounting firms and other service providers. Information about ISDA and its activities is available on the Association’s website: Follow us on Twitter, LinkedIn, Facebook and YouTube.


About B2C2

B2C2 is the crypto-native liquidity provider across market conditions.  450+ institutions globally, including agency OTC desks, aggregators, banks, exchanges, FX brokers and hedge funds, rely on B2C2’s full service offering for 24/7 access to the crypto market.

Since it was founded in 2015, B2C2 built its technology, products and services to meet the evolving needs of diverse institutions.  Continuously innovative, B2C2 is trusted by clients to find solutions to industry challenges, such as creating the first crypto ISDA Master Agreement in 2018.

Acquired by Japanese financial group SBI in 2020, B2C2 remains a standalone company, headquartered in the UK, with offices in the US and Japan.  B2C2 OTC Ltd. is authorised and regulated by the UK’s Financial Conduct Authority (FRN 810834).  For more information, please visit

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