Spanish cryptocurrency exchange Bit2me is interested in entering the Latam market. The company has launched its operations in Brazil by opening an office in the country dealing with compliance issues to make the exchange a safe option for Brazilians. The exchange aims to successfully address the market with 20 million customers in the country.
Bit2me Expands to Brazil Targeting Latam
Bit2me, one of the most recognized exchanges in Spain, is taking steps to expand into Latam. The exchange announced the creation of a new office in Brazil, which will focus on compliance duties, according to statements from the exchange to local media. This implementation is part of the exchange’s strategy to quietly introduce its services to Spanish-speaking countries in the region.
Bit2me considers Brazil to be a very important country due to the sheer number of potential customers and the size of the crypto market. About this, Bit2me CFO Pablo Casadio stated:
[Brazil is] an important country in introducing Bit2me in Latin America, as more than 20 million Brazilians are already investing in cryptocurrencies, showing their interest in learning about this new technology.
For the launch, the exchange signed former Binance employee Ricardo Da Ros, who will be responsible for overseeing expansion activities in the country. For Da Ros, this entry into the Brazilian market is a good opportunity to educate the masses about bitcoin and the crypto market.
I believe that with Bit2me we will be able to improve the knowledge of cryptocurrencies in Brazil and bring the idea of Satoshi Nakamoto closer to all Brazilians interested in this revolution.
Bit2me is a strong believer in a compliance-based service approach, with the company being the first exchange to receive a Virtual Asset Service Providers (VASP) license issued by the Bank of Spain in February. This compliance philosophy also seems to be carrying over to the upcoming operation in Brazil, where the exchange already has a setup focused on securing customer transactions.
This agency “scrupulously applies the regulations related to the prevention of money laundering and the financing of terrorism”, according to the exchange. This aims to give the exchange an edge over competitors operating outside the country, especially as Brazil is pushing the adoption of a cryptocurrency law that will regulate the activities of virtual asset service providers.
What do you think of Bit2me’s expansion to Brazil? Tell us in the comments below.
Sergio is a cryptocurrency journalist based in Venezuela. Describing himself as late in the game, he entered the cryptosphere when the price surge happened in December 2017. With a computer engineering background, living in Venezuela and influenced by the cryptocurrency boom on a social level, he offers a different point of view on crypto success and how it helps the unbanked and underserved.
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