Bit2me, a Spanish cryptocurrency exchange is interested in entering the Latam marketplace. Bit2me has opened an office in Brazil to handle compliance matters and make it a safer option for Brazilians. It aims to tackle Brazil’s 20 million-customer market.
Brazil Expands Bit2me with Latam Target
Bit2me, a well-known exchange based in Spain, has begun expanding its operations to Latam. According to the announcements made by the exchange to local media, the new Brazilian office will focus on compliance tasks. This deployment is part of the exchange’s strategy to quietly introduce its services to Spanish-speaking countries in the region.
Bit2me regards Brazil as a country of great importance due to its potential customer base and size in the cryptocurrency market. Pablo Casadio (Bit2me CEO) stated this:
[Brazil is]The entry of Bit2me to Latin America was made possible by Brazil, where more than 20,000,000 Brazilians invest in cryptos. This shows that they are interested in this technology.
Ricardo Da Ros is a former Binance employee and will now be in charge of overseeing expansion efforts in Brazil. Da Ros sees this as a chance to spread more information about the cryptocurrency market and bitcoin to Brazilians.
He declared:
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.
Conformity Based
Bit2me believes in compliance-based services. In February, Bit2me was the first exchange to be granted a Virtual Asset Service Provider (VASP), license by the Bank of Spain. This same philosophy appears to have been transferred to Brazil where Bit2me already has a structure dedicated to protecting customer transactions.
This office “scrupulously applies the regulations related to the prevention of money laundering and the financing of terrorism,” according to the exchange. This gives the exchange an advantage when compared with competitors operating in other countries, particularly as Brazil advances the approval of cryptocurrency laws that will govern the operation of virtual asset services providers.
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