Bullish, a technology company that operates institutionally focused digital asset platform trading platform Bullish exchange said it is working with crypto liquidity provider B2C2.

The partnership aims to provide trading liquidity to crypto institutions. It is not known how much of B2C2’s trading volume is committed to trading via Bullish.

B2C2 is a Japanese crypto market maker and liquidity provider. In December 2020 it was acquired by Japanese financial giant SBI Financial Services in what was seen at the time as the first major financial firm to own a crypto desk.

“We take great pride in adding B2C2 to our growing roster of institutional customers,” Bullish CEO Tom Farley said in a statement.

“This partnership seamlessly aligns the business objectives of both organizations by allowing Bullish’s unique liquidity to be delivered to B2C2’s large breadth of clients through fast execution, reliable trades, and transparent pricing,” he added.

Bullish itself has struggled to gain a foothold in the market, and has only logged around $200 billion in trading volume – roughly the monthly volume of Binance – since its inception in November 2021 despite backing from Notable venture capitalists such as Peter Thiel, Galaxy Digital and the crypto ecosystem incubator Block.One. In the wake of the collapse of the FTX exchange, it decided to call off a public listing via a special purpose acquisition company (SPAC).