Bit2me, a Spanish cryptocurrency exchange, has taken a bold step to expand its operations to Latam. According to a local media statement, Bit2me announced that it has established a new office in Brazil that will tackle compliance tasks. This is one of the operation strategies the exchange has introduced in Spanish-speaking countries.
According to Bit2me, Brazil is a key factor because of its high number of crypto users and the crypto market. In support of this Bit2me CFO, Pablo Casadio said:
‘’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.’’
For smooth operations in the country, the exchange onboarded former Binance employee, Ricardo Da Ros, to oversee its expanding operations in the country. The exchange is very optimistic about Da Ros’s entry into the Brazilian market since he will be able to educate customers more about the crypto market and bitcoin.
‘’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.’’
Compliance-based services approach
The exchange has always believed in a compliance-based service approach; besides, it was the first exchange to be issued a virtual asset service provider (VASP) license by the Bank of Spain back in February.
From the look of things, the compliance idea might be introduced to Brazil’s operations since the exchange already has a setup that will secure customer transactions.
According to the exchange, the office will help in the prevention of finance terrorism and money laundering. This will boost the exchange power over its competitors that are operating outside the country, besides, Brazil is working on the approval of a crypto law that will regulate virtual asset service provider operations.