“In line with our operations in the UK, US and Asia-Pacific, our office in Luxembourg will remain committed to providing unparalleled liquidity and exceptional service to our clients,” stated Denzel Walters, head of B2C2 in Luxembourg, following the company’s successful registration as a virtual asset service provider in Luxembourg. Photo: B2C2

“In line with our operations in the UK, US and Asia-Pacific, our office in Luxembourg will remain committed to providing unparalleled liquidity and exceptional service to our clients,” stated Denzel Walters, head of B2C2 in Luxembourg, following the company’s successful registration as a virtual asset service provider in Luxembourg. Photo: B2C2

B2C2 has secured virtual asset service provider registration from the Luxembourg Financial Sector Supervisory Commission (CSSF), marking the company as the 12th such entity to operate in the grand duchy, the firm announced on Wednesday.

B2C2, based in London and specialising in cryptocurrency liquidity services, has received regulatory approval from the Luxembourg Financial Sector Supervisory Commission (CSSF) to operate in Luxembourg. With this approval, granted on 26 January and announced on 7 February 2024, B2C2 is now the twelfth virtual asset service provider officially registered in Luxembourg.

The company, which services institutional clients worldwide, expects that this approval will allow it to participate more effectively in the digital asset market, it said in a press release. The CSSF’s approval enables B2C2 to offer exchange services between different forms of virtual assets and between virtual assets and fiat currencies, including the exchange of virtual currencies for fiat currencies, significantly expanding the firm’s operational scope.

Denzel Walters has been named as the head of B2C2’s Luxembourg division. Walters, with his background at the Bank of England, the Prudential Regulatory Authority and Optima Partners, is tasked with leading the Luxembourg team in operational and market growth within the digital asset sector.

With the Luxembourg regulatory approval, B2C2 plans to expand its services to include over-the-counter spot crypto services for institutional clients. This service expansion follows B2C2’s recent acquisition of Woorton, a Paris-based digital assets liquidity provider, which increases B2C2’s capabilities in the cryptocurrency market.

Thomas Restout, group CEO of B2C2, noted the importance of the virtual asset service provider registration in Luxembourg, especially as the company prepares for the upcoming Markets in Crypto-Assets (Mica) regulation in the EU. Restout acknowledged Luxembourg’s active virtual asset community and stated that Walters’ regulatory experience and track record would contribute to providing B2C2’s Luxembourg clients with effective operational and trading services.

Walters shared his outlook on leading B2C2’s operations in Luxembourg, focusing on collaboration within the local digital asset ecosystem and maintaining the company’s commitment to liquidity and service quality for clients, consistent with B2C2’s approach in other regions such as the UK, US and Asia-Pacific.

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