Bit2Me to expand in Spain and Latin America after raising $15m.

Here are the main points:

  • Bit2Me, a Spanish cryptocurrency exchange, plans to expand its services in Spain and Latin America.

  • The exchange raised $15 million in a funding round led by Investcorp, with participation from Telefónica Ventures, Stratminds VC, Cardano, and YGG Fund.

Bit2Me to expand its services in Spain and Latin America

Bit2Me, one of the leading cryptocurrency exchanges in Spain, has announced that it will expand its services in Spain and Latin America.

The company raised $15 million in a funding round led by Investcorp. Telefónica Ventures, Stratminds VC, Cardano, and YGG Fund also participated in the round.

The funds will be used to increase Bit2Me’s presence in Spain and accelerate its expansion in certain Latin American countries.

According to Leif Ferreira, co-founder and CEO of Bit2Me, “This funding will boost our acquisition of new customers, especially 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 2021, the company established a new office in Brazil to handle compliance tasks.

Two months later, Bit2Me 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, Bit2Me received approval from the Bank of Spain to be the first provider of virtual currency services and the custody of digital wallets.

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

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