Crypto market maker B2C2 has launched PENNY, a new platform that enables instant, fee-free trades between major stablecoins as institutional demand for frictionless liquidity tools grows, the company said in a press release on Thursday.
The launch comes as the stablecoin market expands beyond cryptocurrency trading into payments, banking and settlement use cases.
PENNY currently supports six stablecoins (USDT, USDC, USDG, RLUSD, PYUSD, and AUSD) on Ethereum, Tron, Solana, and various Layer 2 networks, with more assets expected to be added regularly.
B2C2 said PENNY allows users, including banks, merchant acquirers, exchanges and stablecoin infrastructure companies, to automatically swap between tokens without fees or counterparty risk.
Swaps are settled on-chain through B2C2’s institutional trading infrastructure, which processes approximately $1 billion in daily stablecoin volume.
“Stablecoins have surpassed the use case of cryptocurrency trading,” Thomas Restout, CEO of the B2C2 group, said in the statement.
“As traditional financial institutions and corporations increasingly adopt stablecoin payment paths, PENNY offers them valuable infrastructure for real-time execution and settlement without the risks of network fragmentation or the friction and high costs of trading on exchanges,” he added.
The launch follows the acceleration of regulatory clarity in the US, EU and Asia, which has spurred the adoption of regulated stablecoins and encouraged new issuers, including banks and fintechs.
“PENNY is an instant and free installation aimed at the real economy,” said B2C2 US CEO Cactus Raazi in an interview with CoinDesk.
The platform is an “important development in the market structure” and an important step forward in the evolution of the stablecoin market, Raazi added.
Wall Street bank Citi (C) expects the capitalization of the global stablecoin market to grow from about $300 billion in 2025 to up to $4 trillion in 2030.
Founded in 2015, B2C2 is one of the first and largest institutional liquidity providers in cryptocurrencies, facilitating over $2 trillion in trading volume across 15 blockchains. The firm operates regulated entities in the Americas, Europe and Asia-Pacific.
