London’s B2C2 Seizes The Opportunity To Branch Into The US Despite Crypto Desks Facing Headwinds
B2C2 Seizing The Opportunity To Branch Into The US Despite Crypto Desks Facing Headwinds
Currently, for major crypto market makers, it's losing some and winning some.
Despite that current trend, the UK-headquartered crypto marker maker, B2C2 is infiltrating the USA crypto industry. Amid significant departures and glitches elsewhere, the liquidity provider has sniffed the opportunity for some fresh meat. Already, B2C2 has stretched into Europe and Tokyo.
Wall Street Veteran In The House
Undoubtedly, the US is indeed a big market for the cryptocurrency, and B2C2 seems to be very much aware of it. Therefore, for that reason, it has hired Rob Catalanello to lead the US front. Catalanello- the electrical engineer turned e-commerce guru was appointed B2C2's chief executive.
Exceptional Experience For B2C2
Catalanello joins B2C2 after serving Wall Street for more than two decades where he held very senior roles at Credit Agricole as well as Merrill Lynch firms. Also, most recently, Rob was the senior partner at some capital markets consulting firm which he founded.
Along with several executives who have joined the cryptocurrency sector, Catalanello has become the latest having a long career in finance. It makes sense for companies in the nascent industry to recruit experienced financial executives to become more mainstream as well as attracting business from the institutional investors.
Furthermore, Catalanello served on FX markets committee of the Federal Reserve Bank of New York for up to 9 years. Also, speaking about the appointment, Max Boonen, B2C2's CEO, and founder, said that Catalanello had gained a lot of financial market experience at major investment banks and hence he will prove to be instrumental in the firm expanding client franchise to the US market.
What Does Catalanello Think About B2C2?
According to him, the company is well taking a conservative approach as well as securing appropriate regulatory authorizations before starting to do business in the US. Besides, he added that now B2C2 has submitted already their FinCEN application and hence hopes to begin dealing with the customers come end of next month.
Intentions To Add Staff
At the moment, Catalanello is the company's only U.S employee. However, the firm is working on a process to ensure it adds more individuals to the team to ensure the business grows. Besides, he noted that the company's US office would be situated in Jersey City, New Jersey.
The firm intends to first focus on cash trading against the US dollar primarily to target wholesale institutional investors. However, there's no ruling out of eventually introducing the firm's main product of derivatives trading.
Perhaps, B2C2 has well sniffed an opportunity for some fresh meat in the US, and whether hiring wall street FX vet will propel the company forward in line with their objectives remain to be seen. But all the same, right now, it's a decision well-made going experience wise.