Bit2Me to Double Headcount, Make Three Acquisitions
The CEO of the Spanish crypto exchange said now is the time to build.
Spanish crypto exchange Bit2Me plans to add 250 employees during the next 12 months, doubling its headcount, co-founder and CEO Leif Ferreira told CoinDesk.
The company has also signed memorandums of understanding for three acquisitions, including purchasing a 90% stake in a Latin American exchange and buying a fintech company and a software developer, both based in Spain, Ferreira added. More details will be available later this year, he said.
“In a context of many layoffs, now is the time to hold and build,” Ferreira said. “Crypto is not going to stop, no matter how much prices have fallen.”
Read more: Crypto Jobs: Who’s Cutting and Hiring?
Funding for the hiring and acquisitions will come from cash on hand, including part of the 20 million euros ($20.3 million) raised through an initial coin offering in 2021, Ferreira said, though he didn’t rule out adding capital via a strategic partner. “It is not something we need or want to close immediately,” he said. “We are open to a strategic partner coming in. It is not an obsession for us.”
In February, Bit2Me received the first license granted by the Bank of Spain as a “provider of services for the exchange of virtual currency for fiat currency and the custody of digital wallets,” the company said at that time.
In addition to Spain, Bit 2Me operates in Portugal, Italy, France, Brazil and Peru. The company has 600,000 users, 70% of whom are in Spain. Trading volume in 2021 totaled 1.1 billion euros ($1.12 billion).
The company also plans to introduce a Mastercard debit card, a futures trading platform, a lending service and a feature to allow online shops receive payments via cryptocurrencies, all this year.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.