Tether acquires stake in Bit2Me to boost EU, Latin America expansion

Tether has acquired a minority participation in Bit2me to extend his presence in Latin America and the EU

TETHER is expanding its presence in Latin America and in the European Union. Thursday August 7, Tether acquired A minority participation in Bit2me, one of the largest cryptographic platforms focused on the Spanish. As part of the agreement, Tether leads a financing tour of 30 million euros in the company.

The investment comes after Bit2me acquired the license of Crypto-Set of Spain service provider. This allows the exchange to comply with the regulations of the European Union Mica, which gives it authorization to operate in the 27 EU member states.

“BIT2ME has always demonstrated its commitment to build a compliant, secure and intuitive infrastructure for the digital asset ecosystem,” said Paolo Ardoino, CEO of Tether.

The co-founder and head of the Bit2me operation, Andrei Manuel, explained that the funds collected will be used to extend the presence of the company in the EU and Latin America. In particular, the accent will be placed on Argentina, which has long had difficulties with macroeconomic instability.

“With their support, we aim to accelerate our leadership in Europe and Latin America, markets that are just starting to unlock the power of decentralized finance,” said Andrei Manuel, Bit2me.

Threatened by the EU, American regulations

This investment occurs despite the current regulatory problems of Tether in the European Union. In particular, Mica regulations require strict disclosure for stablecoin issuers. However, it was something that Tether did not want to provide, effective blocking it of the EU market.

The attachment can soon face Similar challenges In the United States, which recently adopted the law on genius. The new law imposes strict transparency requirements for transmitters, which can pose a problem for the traditionally secret attachment.