The first Stablecoin issuer, Tether, acquired a minority participation in Bit2me of the exchange of Spanish crypto, leading an investment round of 30 million euros (around 35 million dollars) to support the growth of the exchange in Europe and Latin America.
Bit2me said that he recently became the first Spanish -speaking fintech to be authorized by the Spanish securities regulator in the new EU Mica framework. Approval opens the door to operations across the European Union.
Tether’s investment goes through his venture capital arm based in El Salvador, Tether Ventures, which deploys profits and reserves in technological infrastructure and other projects. The company has invested in many companies in a wide range of industries.
These include the Italian football club in Juventus, the great Latin American producer Adecoagro, the company of the legal medicine of the blockchain, Crystal Intelligence, the competitor Youtube Rumble and the investment company focused on Elemental Altus.
BIT2ME plans to use funding to deepen its scope in Latin America, in particular Argentina, where the request for crypto services continues to grow and where it received a license from virtual asset service provider last year.
“We are delighted to support their role in the development of the regulated Crypto-Aset services in Europe and beyond,” said Tether CEO, Paolo Ardoino, in a press release.
Bit2me is already supported by Telefónica and other large Spanish institutions. These, according to a press release shared with Coindesk, include banking giants like Unicaja, BBVA and Cecabank.
Other terms of the agreement, including the exact size of Tether’s participation and the new Bit2Me assessment, have not been disclosed.
