Bit2Me Expands into Argentina, Securing VASP Approval Amid Latin American Growth

Spanish cryptocurrency exchange Bit2Me has received approval from Argentina’s National Securities Commission (CNV) as a Virtual Asset Service Provider (VASP), the company confirmed on Friday. This approval follows the CNV’s March decision to require registration for all virtual asset companies operating in Argentina, a move designed to regulate and strengthen the sector. Bit2Me is now among 79 registered VASPs in the country.

This regulatory milestone comes as Bit2Me accelerates its Latin American expansion, bolstered by a $15 million funding round in June 2023. The exchange has steadily gained market presence, exemplified by its 2022 acquisition of Peruvian peer Fluyez. With over one million customers, Bit2Me was also the first crypto firm to be registered with the Bank of Spain, positioning itself as a leading player in Europe’s growing digital asset space.

Bit2Me’s Latin American push reflects its strategic vision to serve burgeoning markets. The acquisition of Fluyez and the new VASP approval underscore Bit2Me’s efforts to provide robust and compliant cryptocurrency services in the region. This latest development places Bit2Me at the forefront of Argentina’s evolving crypto landscape as the country sees growing interest in digital assets amid economic challenges.

In addition to its success in Latin America, Bit2Me has been strengthening ties with traditional financial institutions. In July, Unicaja Bank, one of Spain’s top five banks, announced an investment in Bit2Me, taking a stake of more than 5%. This partnership is part of a broader effort by the bank to explore the European Union’s MiCA regulations, the tokenization of assets, and the potential of blockchain technology.

Unicaja CEO Isidro Rubiales said, “The deal will help us anticipate the future and incorporate solutions that enhance our services while adapting to changes demanded by customers.” Bit2Me also plans to offer Unicaja banking services to its customer base, signaling a growing synergy between traditional finance and the emerging crypto world.

The international collaboration doesn’t stop there. Bit2Me recently signed a strategic partnership with Fuze, a Middle Eastern digital assets infrastructure provider, to enhance cross-border connectivity between Latin America, Europe, and the Middle East. The partnership aims to streamline digital asset trading, improve liquidity provision, and enable smoother transactions across three continents.

Koh Martinez, Co-CEO of Bit2Me, highlighted the importance of the partnership: “There is significant demand for digital assets services across the Middle East. Our collaboration with Fuze will allow us to enhance our global offerings and share unique experiences across continents.”

This move aligns with Bit2Me’s broader goal to become a key player in the global digital asset space, leveraging its expertise and regulatory compliance to grow its footprint. With Argentina’s approval now secured, Bit2Me continues to cement its position as a leader in the fast-evolving cryptocurrency market.

As Latin America embraces digital currencies, Bit2Me’s expansion highlights the importance of a well-regulated environment for digital asset providers, ensuring security, compliance, and trust for millions of users.

Amanda Perez
Digital Assets Desk