Bit2me, A Spanish Cryptocurrency Exchange, Has Expanded Its Services To Brazil.

2022-05-03 | Selina Mathew

Bit2me, A Spanish Cryptocurrency Exchange, Has Expanded Its Services To Brazil.

Bit2me Extends into Brazil Using Latam as a target

Bit2me, one of the best exchangers in Spain, is planning to expand into Latin America. As per claims made by the exchange to local media, the exchange confirmed the construction of a fresh office in Brazil that would concentrate on compliance activities. This rollout is consistent with the exchange's aim to discreetly expand its products to the region's Spanish-speaking nations.

Because of the sheer amount of prospective clients and the magnitude of the cryptocurrency sector, Bit2me believes Brazil to be a highly significant nation.

For the debut, the exchange hired former Binance employee Ricardo Da Ros, who would be in charge of supervising the country's expanding activities. According to Da Ros, this entry into the Brazilian market is an excellent chance to educate the general public regarding bitcoin and the cryptocurrency sector.

Depending upon Compliance

Bit2me has long been a proponent of a compliance-based business model, having been the inaugural exchange to earn a virtual asset service supplier (VASP) licence from the Bank of Spain in February. This compliance mindset appears to be carried over to the exchange's forthcoming business in Brazil, where it currently has a structure geared to safeguarding consumer transactions.

As per the exchange, this office "scrupulously administers the legislation linked to the protection of money laundering as well as the funding of terrorism." This is intended to offer the exchange an advantage over rivals operating beyond of the nation, particularly as Brazil moves closer to passing a cryptocurrency law that would govern the activities of virtual asset service providers.

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