B2C2 Gets FCA Authorization for Crypto CFDs in the UK

B2C2 Gets FCA Authorization for Crypto CFDs in the UK

London based leading cryptocurrency market maker B2C2 announced they got the green light from the Financial Conduct Authority to offer crypto derivatives in the United Kingdom, according to a press release published by Business Wire.

The Financial Conduct Authority seems to have changed its point of view regarding Contracts for Difference (CFD) instruments as the watchdog issued a warning on CFDs in November 2017 when the FCA said it was an extremely high-risk investment.

“Cryptocurrency CFDs are an extremely high-risk, speculative investment. You should be aware of the risks involved and fully consider whether investing in cryptocurrency CFDs is appropriate for you,” the FCA said back in 2017.

However, today its opinion is different as the FCA approved the initiative on CDFs and B2C2 “is now authorised and regulated by the UK’s Financial Conduct Authority to arrange and deal in Contracts for Difference (CFDs) with eligible counterparties and professional clients. The FCA authorisation will allow these clients of B2C2 OTC Ltd. to gain exposure to cryptocurrency markets via the firm’s CFDs.”

According to the press release, “eligible counterparties and professional clients can now gain derivative exposure to the cryptocurrency markets, benefiting from B2C2’s competitive pricing and liquidity while avoiding the risks associated with crypto custody,” founder and CEO of B2C2 Max Boonen said.

B2C2 was founded in 2015. It provides liquidity for Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, and Ethereum Classic in Dollar, British Pound, Euro, Japanese Yen, Singapore Dollar, Australian Dollar, Canadian Dollar, and Franc Swiss among other.

The firm also offers synthetic exposure to crypto. B2C2 “world-class technology offers streaming prices and instant execution via REST and FIX APIs, in addition to its web interface and voice trading capabilities. B2C2 is also integrated with the largest liquidity hubs, including Simplex Inc., oneZero, Gold-i and Caspian.”

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