B2C2, one of the leading companies in the cryptocurrency market, has announced its acquisition of its French rival, Woorton, as part of its expansion strategy in Europe, according to a report by The Block. In its statement, B2C2 also mentioned that the acquisition of Woorton grants them the right to operate in compliance with financial regulations in France.
Thomas Restout, the President for Europe, Middle East, and Africa (EMEA) at B2C2, stated in a comment on the matter, “The experience of the Woorton team in the traditional financial sector has combined with the dynamics of crypto and digital assets.”
Increased Capacity to Provide MiCA-Compliant Services
Restout also emphasized that this merger significantly increased B2C2’s capacity to provide services in compliance with the Markets in Crypto-Assets Regulation (MiCA) to its clients within the European Union.
Full Compliance with French Regulations
One of the most notable advantages obtained through the acquisition of the France-based Woorton is access to the PSAN license regulated by the Financial Markets Authority (AMF). This license enables B2C2 to operate in full compliance with French financial regulations, ensuring reliability and transparency.
A Strong Step in Regulatory Compliance
The acquisition of Woorton by B2C2 not only signifies the addition of a competitor to its portfolio but also represents a strong step in regulatory compliance. This move prominently showcases the efforts of the crypto world to align with increasingly complex regulations.
As the impact of B2C2’s European expansion strategy on the industry’s landscape and its effect on competitors remains a point of curiosity, this step taken by the company undoubtedly reflects the evolving face of the crypto world.