The Bank of Spain has registered Bit2Me as the country’s first licensed virtual currency-to-fiat exchange and e-wallet storage service provider.
The exchange writes:
“Bit2Me is the FIRST EXCHANGE IN THE WORLD recognized by the BancoDeEspana. A new milestone for the crypto sector that demonstrates our progress and that of the entire ecosystem.”
Bit2Me es el PRIMER EXCHANGE DEL MUNDO reconocido por el @BancoDeEspana. ?
Un nuevo hito para el sector #cripto que demuestra nuestros avances y los de todo el ecosistema.#Bitcoin es imparable. ?
Más info: https://t.co/WPMbn9Uqhz pic.twitter.com/bNdb7YDz13
— Bit2Me (@bit2me) February 17, 2022
The regulator approval means that the exchange complies with “the requirements of commercial and professional responsibility of credit institutions, and also complies with all rules for the prevention of money laundering and terrorist financing,” the company’s blog says.
Bit2Me offers services to clients from over 100 countries. Spain top media El Pais noted that the license will allow local credit institutions to integrate their services with the exchange to provide customers with access to the digital asset market.
Bit2Me is the Spanish response to rising crypto demand in the country. The firm transaction volume in 2021 exceeded 1,100 million euros, and currently has 160 employees and 500,000 users, 20% of them from outside Spain. The exchange has plans to grow in Ireland and Portugal. Its headquarters is in Castellón, although last week it opened another in Madrid.