2026 · Evidence audit

B2C2 — institutional liquidity provider

B2C2 OTC Ltd is authorised and regulated by the FCA in the UK. It holds a tier 1 licence but its cryptoasset services are currently unregulated. The firm claims to be a global leader in institutional digital asset liquidity, a self-measured assertion that cannot be independently verified.

B2C2 OTC Ltd (UK, company 10102984); group incl. B2C2 Ltd (Cayman 1927413), B2C2 Europe S.à r.l. (Luxembourg RCS B265273), B2C2 USA Inc., B2C2 Asia Pte. Ltd. · London, UK — 41 Lothbury, EC2R 7HF (own about page: 'Global locations London (HQ)') · last re-checked 2026-09 · evidence score 78/100

Licence, read on the register

Regulator	Licence number	Jurisdiction	Tier	Source
FCA	810834	UK	tier-1	open source ↗
CSSF (MiCA CASP authorisation; VASP registration from 2024)	not verified	Luxembourg	tier-1	open source ↗

Tier classification follows the same scale as the retail register: tier-1 = FCA/ASIC/CFTC-class supervision, tier-2 = CySEC/FSC-Mauritius/MFSA-class, tier-3 = offshore registration. A tier-2 licence is genuine supervision without an investor compensation scheme — never misread it as tier-1 protection.

What the firm commits to

Claims specific enough to be falsified — and the ones that remain the venue's own measurement.

Testable claims

B2C2 OTC Ltd is authorised and regulated by the FCA in the UK (reference number 810834) in relation to the regulated activities it performs, while its cryptoasset services are not currently regulated by the FCA and clients will not benefit from compensation/ombudsman schemes (b2c2.com/disclaimer)
B2C2 Europe S.à r.l. obtained MiCA authorisation from Luxembourg's CSSF as a Crypto-Asset Service Provider on 13 May 2026, announced 15 May 2026, enabling OTC spot crypto services across the EU/EEA via passporting; the firm had been registered as a VASP in Luxembourg from 2024 (own press release)
B2C2 Europe S.à r.l. is registered with the CSSF as a Virtual Asset Service Provider, RCS number B265273, 1 rue Jean Piret, L-2350 Luxembourg (b2c2.com/disclaimer)
Institutional solutions page lists 24/7/365 support for asset managers, funds, banks, brokers, exchanges, DATs, fintechs and crypto projects (b2c2.com)

Claims we cannot verify from outside

'Global leader in institutional digital asset liquidity' positioning (self-description)
'Battle-tested technology' / 'crypto-native expertise' marketing language
'First Global OTC Liquidity Provider to secure a CASP licence' superlative (self-claimed, cannot be independently verified without a CSSF register check)

Perimeter and coverage

Asset classes	Venues	Connectivity	Clients accepted	Explicitly refused
Crypto OTC spot, Stablecoin swaps, Digital-asset market making		API (OTC), Chat/voice OTC, Settlement 24/7/365	Asset managers, Funds, Banks, Brokers, Exchanges, Fintechs, Crypto projects (own 'institutional solutions' copy)

A firm that publishes its own negative space — who it refuses, where it is not licensed — is materially easier to diligence than one that doesn't. The refusal list is treated here as a disclosure, not a defect.