Bit2Me, a significant cryptocurrency exchange located in Spain, has received €14 million to establish itself in the Spanish market further and to grow into Latin America.
In a blog post, the exchange said that Investcorp, a worldwide provider of alternative investment solutions for individual and institutional customers with over $50 billion in assets under management, had led the fundraising round.
The business claims that the funding would allow it to launch the “next phase of its mission,” worldwide dissemination of cryptocurrency.
As Pablo Casado, Bit2Me’s investor and CFO, said, the company plans to utilise the funds to strengthen its ability to comply with regulations and protect its users and “continue to bet on Spain as the physical and fiscal headquarters.”
The bourse is ISO/IEC 27001 certified and was just awarded the 2022 Expansion of Compliance Award. Inveready Venture Capital, which claimed to have the greatest return in the Spanish market, owns Bit2Me and is registered as the company’s owner with the Bank of Spain.
Investcorp’s Blockchain Fund Partner Herve Francois thinks Bit2Me is set up well to capitalise on the market’s fast expansion. He also said Investcorp’s management would get help from eLydian Lion, an institutional blockchain fund.
Bit2Me, in the meanwhile, bought the Peruvian cryptocurrency exchange Fluyez in July 2022. Fluyez has the backing of the Peruvian Fintech Association and has extended to other Latin American nations, including Mexico.
Bit2Me also negotiated with Telefónica in September 2022 to implement cryptocurrency payments on the Tu.com platform for Telefónica’s smartphones.
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