Tether invests $35 million in Spanish cryptocurrency exchange Bit2Me...Acquires partial stake
Summary
- It was reported that Tether invested $35 million in the Spanish cryptocurrency exchange Bit2Me, acquiring a partial stake.
- Bit2Me announced that it can operate its business throughout the European Union (EU) after receiving approval under MiCA.
- Bit2Me stated that it plans to use Tether’s investment funds to expand its business in Argentina.
Tether (USDT), the issuer of the dollar stablecoin, has invested $35 million in the Spanish cryptocurrency exchange Bit2Me.
According to CoinDesk on the 7th (local time), Tether recently invested $35 million in Bit2Me, acquiring a partial stake. This investment was conducted through Tether’s venture capital (VC) affiliate, Tether Ventures.
Bit2Me is the first Spanish fintech company to receive MiCA approval last month as a cryptocurrency exchange. CoinDesk reported, “With this approval, Bit2Me can operate its business throughout the European Union (EU).”
Bit2Me plans to use the funds from Tether's investment to expand its operations in Argentina. Previously, in September last year, Bit2Me obtained a Virtual Asset Service Provider (VASP) license in Argentina. CoinDesk noted, “Demand for cryptocurrency services continues to increase in Argentina.”
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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