Bit2Me Expands into Argentina with Official License as Virtual Asset Service Provider

Bit2Me, a well-known Spanish cryptocurrency exchange, has taken a significant step in its global expansion by securing approval to operate as a Virtual Asset Service Provider (VASP) in Argentina. The company, on Friday, announced that it received the license from Argentina’s National Securities Commission (CNV), marking a milestone in its mission to gain a strong foothold in Latin America.

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This development not only strengthens Bit2Me’s position in the region but also reassures local investors and financial institutions about the company’s commitment to regulatory compliance. In a statement released in Spanish, Bit2Me highlighted the importance of adhering to local standards, stating that this approval would enhance trust in its services.

Growing Regulatory Framework for Crypto in Argentina

Earlier this year, Argentina’s CNV introduced a registry for virtual asset service providers, making it mandatory for crypto companies to be approved before operating in the country. So far, 79 firms, including Bit2Me, have been authorized, signaling the growing importance of regulations in Argentina's cryptocurrency landscape. As the sector gains momentum, such oversight ensures that companies meet the required legal and financial standards, which fosters both transparency and consumer protection.

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Bit2Me’s Ambitious Expansion Plans

This isn’t the first major milestone for Bit2Me. In June 2023, the company raised $15 million through a funding round, aiming to solidify its position in Spain and accelerate its growth in Latin America. One of the key moves was acquiring a majority stake in Fluyez, a Peruvian cryptocurrency exchange, in 2022. This acquisition is part of Bit2Me’s broader strategy to expand across the region and tap into the rapidly growing digital currency market.

Bit2Me’s expansion is also rooted in its compliance with local laws. In 2022, the company received approval from the Bank of Spain to offer cryptocurrency exchange services and digital wallet custody. This dual regulatory approval in both Spain and Argentina is a testament to Bit2Me’s commitment to following the rules and building a reputable presence in the crypto world.

By entering Argentina’s market, Bit2Me is positioning itself as a key player in the rapidly evolving Latin American crypto scene, where demand for digital assets and innovative financial services is on the rise.

Also Read: Circle Moves Crypto Headquarters to NYC, Prepares for Upcoming IPO