Spanish cryptocurrency exchange Bit2me is interested in entering the Latin American market. The company launched its operations in Brazil by offering an office in the country to deal with compliance issues to make the exchange a safe option for Brazilians. The exchange aims to successfully handle the market of 20 million clients in the country.
Bit2me expands into Brazil with Latam as target
Bit2me, one of the most well-known exchanges in Spain, is taking steps to expand into Latin America. The exchange announced the creation of a new office in Brazil, which will focus on compliance tasks, according to exchange data for local media. This publication is part of the exchange’s strategy to quietly offer its services to the Spanish-speaking countries in the region.
Bit2me Brazil is a very important country due to the huge amount of potential customers and the size of the crypto market. In this regard, Pablo Casadio Bit2me CFO stated:
[Brazil is] A major country in Bit2me’s entry into Latin America as more than 20 million Brazilians are already investing in cryptocurrencies, showing their interest in learning about this new technology.
For the launch, the exchange has signed on former Binance employee Ricardo da Ross, who will be responsible for overseeing the country’s expansion. For Da Ros, this entry into the Brazilian market is a good opportunity to bring more education to the masses about Bitcoin and the crypto market.
I believe that with Bit2me we will be able to improve the knowledge of cryptocurrencies in Brazil and bring the idea of Satoshi Nakamoto closer to all Brazilians who are interested in this revolution.
on the basis of compliance
Bit2me has been a firm believer in its compliance-based service approach, as the company was the first exchange to obtain a Virtual Asset Service Provider (VASP) license issued by the Bank of Spain in February. It appears that this compliance philosophy has also been carried over to the upcoming operation in Brazil, where the exchange already has a setup dedicated to securing client transactions.
According to the exchange, this office “accurately implements the regulations related to the prevention of money laundering and terrorist financing.” This seeks to give the exchange an advantage over competitors operating outside the country, especially as Brazil offers approval for a crypto law that will regulate the operations of virtual asset service providers.
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