Unicaja Bank, Spain’s fifth-largest bank, has bought a 5% share in the cryptocurrency exchange Bit2Me, according to a source, confirmed by the company’s CEO in an X tweet during the weekend. This is the first time Unicaja Bank has invested in this area. This makes Unicaja the main financial partner for Bit2Me in Spain.
Delighted to officially welcome @UnicajaBanco, one of Spain's major banks, as shareholder and board member alongside @Telefonica, @Investcorp , & @Cecabank_es . This alliance will bring the world of digital assets even closer to millions of people "overnight". @bit2me is proud to… pic.twitter.com/O7iUQdb6kS
— Koh Onozawa (@kohonozawa) July 18, 2024
Bit2Me is a top company in the crypto market for Spanish speakers. It has over a million customers and was the first to be registered as a cryptocurrency service provider by the Bank of Spain. Unicaja Ventures, a new project by Unicaja Group, made this investment possible. As part of the deal, Unicaja now has a place on Bit2Me’s board of directors.
What’s at Stake with 5%?
Unicaja’s investment shows its commitment to new technology and readiness for future changes in finance. By partnering with Bit2Me, Unicaja hopes to create new financial products that reflect global best practices. This partnership will also help Unicaja adapt to new rules, including the European MiCA regulations, which control how cryptocurrencies work. The partnership also allows Unicaja to
prepare for the Pilot Regime, which sets the rules for new financial markets using blockchain technology, as well as the upcoming digital euro.
Por su parte, Bit2Me se convierte en el socio tecnológico nacional de Unicaja en el desarrollo de soluciones con tecnologías DLT y podrá ofrecer a su más de millón de clientes los servicios bancarios que ofrece Unicaja.Esta inversión fortalece la posición de Bit2Me como líder…
— Bit2Me (@bit2me) July 18, 2024
Bit2Me’s Views
Bit2Me stands to gain a lot from this partnership with Unicaja. The bank’s support and expertise will help Bit2Me grow, especially as the crypto market prepares for MiCA regulations. Bit2Me’s COO and co-founder, Andrei Manuel, says they are dedicated to providing secure and innovative solutions that meet regulatory standards and are ready for the digital euro and the tokenization of financial assets.
Moreover, this investment comes at a time when interest in the crypto market is picking up again, with big names like Bitcoin and Ethereum seeing significant gains coming on the heels of the news of the failed assassination attempt on former president Donald Trump, as the recent drop out of the Democrat’s and incumbent president Joe Biden on Sunday, which was made official Monday morning.
Thus, Unicaja’s timely move into the crypto space positions it well for future growth, and the timing couldn’t be better.
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