The Spanish trading platform is planning to purchase a number of companies to expand its operations in Latin America.
BIt2Me, a Spain-based cryptocurrency exchange founded in 2014, has recently announced that it purchased a stake in the Peruvian crypto trading firm Fluyez.
According to the official announcement issued on July 21st, with the purchase of the 85% stake, estimated at over 1 million euros ($1.022M), Bit2Me seeks to boost its presence in the Latin American market.
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Luis Eduardo Berrospi, CEO and co-founder of Fluyez, noted that the firm acquired won’t be rebranding itself and will keep its current name. On top of that, Fluyez, which currently works with over 60 cryptocurrencies, is also seeking to expand its headcount to 100k by next summer.
Furthermore, Berrospi implied that the Peruvian firm will maximize its efforts through the partnership with Bit2Me by operating in a more “secure, legal, transparent, and supported way.”
On top of that, Andrei Manuel, COO of Bit2Me, mentioned that the trading platform is planning to purchase several crypto exchanges in Uruguay and Colombia, with one undisclosed Chile-based crypto exchange already on its radar. He added:
"We are looking for companies that are fully compliant, have users, a wallet where you can exchange cryptocurrencies and fiat, and a solid team."
The company is expected to spend from $1 million up to $20 million to expand in Latin America.
The official report read that Manuel and the rest of Fluyez’s team will continue leading the organization, while Bit2Me will assist the trading firm with the experience and resources gathered over its course. Bit2Me CEO Leif Ferreira added:
"We want Fluyez to continue to operate autonomously, but with all the capabilities that such a partnership allows. This acquisition shows Bit2Me’s strength and commitment to the crypto ecosystem."
Bit2Me also mentioned that it is open to various investment-related partnerships, as it plans to accelerate its hiring processes and search for additional 250 employees.
