Bit2Me, a prominent crypto exchange based in Spain, has secured €14 million in funding. This is to solidify its position in the Spanish market and expand its operations into Latin America. The exchange made the announcement on its blog.
It also revealed that the funding round was spearheaded by Investcorp, a global manager of alternative investment products for private and institutional clients with over $50 billion in assets under management.
Diverse Group of Participants Highlights Confidence in Bit2Me
The funding round saw the participation of various notable entities. These included Telefónica Ventures, the investment arm of Spanish multinational telecommunications company Telefónica, Silicon Valley-based venture capital fund Stratminds VC, Cardano via Adaverse, and the YGG fund, alongside its CEO Gabby Dizon.
Notably, this diverse group of participants underscores the confidence in Bit2Me’s growth potential.
The press release noted that the funding round occurred during a challenging period in the crypto market, often referred to as a “crypto winter.” Despite the downturn, investors recognized the value of stable and mature companies with strong market positioning. Bit2Me’s ability to secure funding in such conditions demonstrates its solid foundation and growth prospects.
Fueling Global Adoption and Expansion Plans
The infusion of capital will propel Bit2Me towards its next phase, which revolves around driving the global adoption of cryptocurrencies. The exchange aims to solidify its position as the leading exchange in Spain while accelerating its expansion throughout Latin America.
By expanding its client portfolio and establishing itself as a prominent player in the Web3 sector worldwide, Bit2Me seeks to further its mission of facilitating cryptocurrency adoption.
Strengthening Partnerships for Enhanced Growth
Leif Ferreira, co-founder and CEO of Bit2Me, expressed his excitement about the funding. He emphasized that the potential for attracting new clients with Investcorp as an international partner providing substantial financial support. Ferreira also highlighted the partnership with Telefónica, which will serve as a channel to drive Bit2Me’s expansion in Latin America.
Additionally, over the past two years, the exchange has focused on improving its platform’s product quality, regulatory compliance, and client protection.
Bit2Me intends to allocate the investment towards enhancing regulatory compliance and bolstering user security measures. The exchange recognizes the importance of adhering to regulations and ensuring a safe environment for its users.
Pablo Casadío, investor and CFO of Bit2Me, affirmed the company’s commitment to Spain as its physical and fiscal headquarters while prioritizing regulatory compliance and user protection.
Recognitions and Accreditations Reinforce Trust
The exchange’s commitment to excellence and security has been acknowledged through various accolades. Bit2Me was the recipient of the 2022 Expansion of Compliance Award, a testament to its dedication to regulatory compliance. Furthermore, Bit2Me holds the ISO/IEC 27001 Security Certification, further solidifying its reputation as a secure and trustworthy platform.
Co-CEO Koh Onozawam shared the team’s ongoing efforts to incorporate new strategic investors aligned with Bit2Me’s innovation philosophy. In the short and medium term, the exchange expects additional international investors to join their projects, bolstering their growth and expansion plans.
Furthermore, Investcorp’s Blockchain Fund Partner, Herve Francois, expressed confidence in Bit2Me’s ability to leverage the rapidly evolving market’s growth opportunities. Investcorp will support Bit2Me’s management team through its dedicated institutional blockchain fund, eLydian Lion. This partnership further strengthens Bit2Me’s position and growth potential.