As part of the interest of Bit2me to expand operations, the Spanish cryptocurrency exchange company has opened a new country office in Brazil. This marks the early steps of operating the cryptocurrency company in the Latam market within the required regulations.
Bit2me is a popular Spanish establishment dealing in cryptocurrency exchange. The company is poised to meet the need of more than 20 million individuals in the country regarding cryptocurrency exchanges. As announced by the company, the establishment of the country office allows it to deal with compliance issues and ensure that the booming Brazilian market has a safe exchange option.
The company’s strategic steps will introduce its services to the growing number of crypto users, and the country office in Brazil will serve the market of Spanish-speaking countries in the region. Brazil was considered an important country to establish the office due to the high volume of potential cryptocurrency exchange users and the growing digital assets market.
The CFO of Bit2me, Pablo Casadro, stated: “Brazil is a key country in the entry of Bit2me in Latin America since more than 20 million Brazilians already invest in cryptocurrencies, which shows their interest in learning about this new technology.”
Launching the Country Office
Ricardo Da Ros, a former Binance employee, has been contracted by the exchange to manage the company’s expansion and operations in Brazil. The former Binance employee has expressed that the expansion by Bit2me will be a good avenue to enlighten more Brazilian populations about Bitcoin and the general cryptocurrency ecosystem at large.
“I believe that with Bit2me, we will be able to improve the knowledge of cryptocurrencies in Brazil and bring Satoshi Nakamoto’s idea closer to all Brazilians interested in this revolution.” As stated by Ricardo Da Ros
Compliance and Regulation
Regarding compliance, the company has expressed its effective compliance with the regulations of the Brazilian government. In addition, the Spanish company was the first exchange to be issued a virtual Asset Service Provider (VASP) license by the Bank of Spain.
The company also stated that it will ensure that all the necessary regulations are enforced to prevent the spread of money laundering and terrorism financing. The expansion of Bit2me is timely when the Brazilian government is fast-tracking the approval of a cryptocurrency law to ensure crypto service providers are regulated.