Introduction
Bit2Me made history in February 2022 by becoming Spain's first fintech company approved by the Bank of Spain as a licensed Virtual Asset Service Provider (VASP). This milestone enables Bit2Me to offer white-label services to Spanish banks—providing IT infrastructure, compliance support, and operational packaging for institutions venturing into crypto trading. Currently, Bit2Me is in advanced negotiations with multiple banks, positioning Spain as a European leader in virtual currency regulation.
👉 Discover how Bit2Me is reshaping crypto banking
Part 1: Company Profile
1.1 Overview
Founded in November 2014 and headquartered in Alicante, Spain, Bit2Me serves over 700,000 users across 69 countries (excluding the U.S.). The platform supports trading and management of 123 virtual currencies, including Bitcoin and Ethereum, with assets stored in offline cold wallets insured up to €100 million.
Key offerings:
- B2M Token: Launched in 2021, now held by 77,000 users and tradable on 7 exchanges.
- Bit2Me Academy: A multilingual educational hub with 400,000+ trained users, blending courses, exams, and certifications.
1.2 Founders
- Leif Ferreira (CEO): Serial entrepreneur with ventures like Tikebit, a cash-to-crypto voucher system.
- Andrei Manuel (COO): Co-architect of Bit2Me’s operational framework.
1.3 Growth & Funding
- 2021: Raised €20M via B2M token sale, offering holders 90% commission discounts and governance rights.
- 2022 Expansion: Entered Latin American markets and announced Brazil entry, hiring ex-Binance executive Ricardo Da Ros.
Part 2: Business Model
2.1 Services
Bit2Me’s ecosystem includes:
- Wallet & Trading (Maker-Taker fees: 0–0.26%).
- Bit2Me Card: Mastercard-powered crypto payments.
- Custody Solutions: Institutional-grade托管 for third parties.
2.2 Revenue
Primary income stems from transaction fees, with revenue tripling in 2020. However, high operational costs limit profitability.
| Fee Tier | EUR Deposits | Crypto Deposits | Trading Fees |
|---|---|---|---|
| Standard | 0.95% | 1.45% | 0.1–0.26% |
Part 3: Market & Regulation
3.1 Competitive Landscape
- Global Leaders: Binance, Coinbase, and Kraken dominate liquidity rankings.
- Bit2Me’s Edge: Compliance-first approach in Spain’s gray-market environment.
3.2 Spanish Regulations
- 2021 Law 7/2021: Mandated VASP registration with the Bank of Spain for AML compliance.
- Advertising Rules: Influencers promoting crypto must pre-disclose campaigns to regulators.
Part 4: Challenges
4.1 Pain Points
- High Fees: 0.95% minimum rate deterring cost-sensitive traders.
- U.S. Absence: Regulatory hurdles block entry into a key market.
4.2 Future Risks
- Payment Card Strain: Instant fiat-crypto conversions may pressure liquidity at scale.
FAQs
Q1: How does Bit2Me ensure security?
A: Offline cold wallets with €100M insurance and partnerships with regulated EMI institutions.
Q2: What makes B2M tokens valuable?
A: Holders enjoy fee discounts and governance privileges.
Q3: Why is Bit2Me targeting Brazil?
A: Brazil’s 10M+ crypto users and new VASP laws align with Bit2Me’s合规 strengths.
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