Bit2Me, the largest Spanish exchange, has been doing great lately despite the current crypto market downturn. While its peers lay off the staff, face regulations troubles and desperately look for liquidity, Bit2Me is expanding quickly and efficiently.
According to the company website “Bit2Me is an international ecosystem of crypto solutions that has been growing since 2014, being a leader in Southern Europe with the main mission to generate cryptocurrency education and adoption”. As Bit2Me says its main focus has always been Southern Europe and Latin America.
One of its goals is definitely to grab as many customers as possible all around the world. It has just acquired a majority stake in the Peruvian peer Fluyez. Now it is in negotiations to acquire an exchange in Chile, Bit2Me COO reported to CoinDesk, adding that the company is also eyeing exchanges in other Latin American countries. Earlier in May Bit2Me announced the establishment of a new office in Brazil, showing its intentions to get a share in the huge Latam market.
The “Home” market is also within Bit2Me sphere of interest. Now the company is going to absorb customers of ‘2gether’, its Spanish rival, after the exchange had blocked access to the trading platform because of the recent market downturn. Bit2Me will pay the fee that ‘2gether’ imposed on its customers. The customers will then be able to keep trading as their assets will be transferred to Bit2Me’s platform.
Unlike other exchanges laying off their staff Bit2Me CEO Leif Ferreira said that the company has plans to add a further 250 employees during the next 12 months, doubling its headcount.
Earlier this year Bit2Me obtained approval from the Bank of Spain to be the “first provider of services for the exchange of virtual currency for fiat currency and the custody of digital wallets”.
All in all it seems that the current crypto market downturn has turned out to be a great time for aggressive expansion and Bit2Me hasn’t miss the boat. Right now Bit2Me is not in the top list of exchanges and does not list many coins, but let’s wait and see what is going to happen next.