Share this article
Spanish Exchange Bit2Me Buys Peruvian Crypto Exchange, Eyes Targets in Latin America
Following the acquisition of a majority stake in Fluyez, the company is looking for purchasing opportunities in Chile, Colombia and Uruguay.
Updated May 11, 2023, 5:36 p.m. Published Jul 21, 2022, 6:00 a.m.
Make us preferred on Google
In this article
Bit2Me, the largest Spanish crypto exchange, acquired a majority stake in the Peruvian peer Fluyez, the company said Thursday.
The purchase of the 85% stake was for more than 1 million euros (US$1.022 million), Bit2Me Chief Operating Officer Andrei Manuel told CoinDesk, without disclosing an exact figure. Fluyez, operational as of March 2021, will continue being led by Luis Eduardo Berrospi, its co-founder and CEO.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The Peruvian company, which will not change its name after being acquired, plans to grow from 10,000 users to 100,000 in 12 months, Manuel said.
In parallel, Bit2Me is in negotiations to acquire an exchange in Chile, Manuel said, adding that the company is also eyeing exchanges in Latin American countries such as Colombia and Uruguay. Targets should range between $1 million and $20 million, 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,” Manuel said.
Read more: Spain’s Central Bank Licenses Bit2Me to Be Country’s First Crypto Services Provider
Bit2Me has already signed two memorandums of understanding to buy a fintech company and a software developer based in Spain during the second half of 2022, Bit2Me CEO Leif Ferreira told CoinDesk last week. It also plans to add 250 employees during the next 12 months, doubling its headcount, he added.
The company will fund acquisitions with cash on hand, including the 20 million euros it raised through an initial coin offering in 2021, Ferreira told CoinDesk, adding that the company does not rule out the entry of a strategic investor.
Di più per voi
Di più per voi
Wall Street giant Apollo deepens crypto push with Morpho token deal
The asset manager overseeing more than $900 billion assets may buy up to 90 million MORPHO tokens as part of a partnership to support DeFi credit market, it said.
Cosa sapere:
- Apollo Global Management struck a cooperation agreement to support lending markets built on Morpho’s onchain protocol.
- The deal allows Apollo to acquire up to 90 million MORPHO tokens over 48 months.
- The move follows BlackRock's push into decentralized finance earlier this week, listing its tokenized fund and buying tokens of decentralized exchange Uniswap.
Top Stories
