Crypto exchange Bit2Me to expand its presence in Spain and Latin America after raising $15m

Key takeaways

• Bit2Me is set to expand its presence in Spain and Latin American countries.

• This comes after the crypto exchange raised $15 million in its latest funding round. 

Bit2Me to expand its services in Spain and Latin America

Bit2Me, a leading Spanish crypto exchange, has revealed that it would be expanding its services in Spain and Latin America.

This latest cryptocurrency news comes after the crypto exchange raised $15 million in a funding round led by Investcorp.

According to the company, the investment round also saw participation from Telefónica Ventures, the investment arm of Spain’s largest telecommunications company Telefónica, Stratminds VC, Cardano and YGG Fund. 

Bit2Me will use the funds to grow its presence in Space and also accelerate its expansion in certain Latin American countries. 

Leif Ferreira, co-founder and CEO of Bit2Me commented that;

“This funding will boost our acquisition of new customers specially thanks to Investcorp, an international partner with significant financial muscle, and to Telefónica, who will give us more channels in Latin America.”

Bit2Me is building a presence in Latin America

Bit2Me is becoming an important cryptocurrency exchange in Latin America. In May last year, the company established a new office in Brazil that will tackle compliance tasks.

Two months later, the cryptocurrency exchange acquired a majority stake in the Peruvian peer Fluyez as it looked to expand its presence in some Latin American countries, including Chile, Uruguay, and Colombia. 

In February 2023, the cryptocurrency exchange also received approval from the Bank of Spain to be the first provider of virtual currency services and the custody of digital wallets. 

Bit2Me’s expansion plans come at a time when leading cryptocurrency exchanges Binance and Coinbase are facing regulatory challenges. The two exchanges were recently sued by the US SEC for allegedly violating securities laws in the country.