The main stablecoin tether issuer has acquired a minority participation in the Spanish cryptographic exchange of Bit2me, leading an investment round of € 30 million (approximately $ 35 million) to support the growth of exchange in Europe and Latin America.
Bit2me said that he recently became the first Hispanic speech Fintech that is authorized by the Stay Values Regulator under the new EU Mica framework. The approval opens the door for operations throughout the European Union.
Tether’s investment occurs through his risk arm based in El Salvador, Tether Ventures, which implements profits and reserves in technological infrastructure and other projects. The firm has invested in numerous companies in a wide range of industries.
These include the Italian football club Juventus, the main Latin American producer Adecoagro, the Forensic firm of Blockchain Crystal Intelligence, the YouTube competitor Rumble and the investment firm centered on the elementary gold Altus.
Bit2me plans to use funds to deepen its scope in Latin America, particularly Argentina, where the demand for cryptographic services continues to grow and where it received a virtual asset service provider license last year.
“We are excited to support their role in the development of regulated cryptocurrency services in Europe and beyond,” said the CEO of Tether, Paolo Ardoino, in a statement.
Bit2me is already supported by Telefónica and other important Spanish institutions. These, according to a press release shared with COINDESK, include bank giants such as Unicaja, BBVA and Cecabank.
No other terms of the agreement were revealed, including the exact size of Tether’s participation and the new Bit2me assessment.
