Leading stablecoin issuer Tether has acquired a minority stake in Spanish crypto exchange Bit2Me, leading a €30 million (about $35 million) investment round to support the exchange’s growth in Europe and Latin America.
Bit2Me said it recently became the first Spanish-speaking fintech to be authorized by Spain’s securities regulator under the EU’s new MiCA framework. The approval opens the door for operations across the European Union.
Tether’s investment comes through its El Salvador-based venture arm, Tether Ventures, which deploys profits and reserves into tech infrastructure and other projects. The firm has invested in numerous companies in a wide range of industries.
These include Italian football club Juventus, major Latin American producer Adecoagro, blockchain forensics firm Crystal Intelligence, YouTube competitor Rumble, and gold-focused investment firm Elemental Altus.
Bit2Me plans to use the funding to deepen its reach in Latin America, particularly Argentina, where demand for crypto services continues to grow and where it received a Virtual Asset Service Provider license last year.
“We’re excited to support their role in developing regulated crypto-asset services in Europe and beyond,” Tether CEO Paolo Ardoino said in a statement.
Bit2Me is already backed by Telefónica and other major Spanish institutions. These, according to a press release shared with CoinDesk, include banking giants like Unicaja, BBVA, and Cecabank.
Other terms of the deal, including the exact size of Tether’s stake and Bit2Me’s new valuation, were not disclosed.