Spain Gives Exchanges Greenlight to Offer Crypto Products
💭 “Now, Spain has all the perspectives to become the Global Crypto Hub.”
Spain.
What do you actually know about this country? Let me guess: the birthday of Flamenco and the Spanish Royal Family. But Spain is definitely more interesting than people imagine. They chose this country only for the paradisiacal beaches and the mountain views. I also like Spain for that.
But did you know that the Spanish economy posted growth of 5.5% in 2022? According to the European Commission, the strong outturn stemmed from a very positive first half of the year, favored by revived private consumption and the impulse provided by the rebound of tourism. The labor market performed well in 2022 on the back of sustained job creation and a reduction in the share of temporary employees in the private sector. The unemployment rate reached 12.9% in 2022. And it’s only a small part of the latest macroeconomic forecast for Spain. Because the country develops in the right vector- to the digital world.
1⃣ Firstly, the Bank of Spain has recognized the first cryptocurrency platform that will be able to operate and provide officially approved services in the country- Bit2Me exchange.
The first platform to function formally as a recognized virtual asset service provider (VASP) in the nation received approval from the Bank of Spain. The first company to obtain this license, which enables it to conduct business in the nation, is Bit2me, a cryptocurrency platform with headquarters in Spain that is accessible in more than 100 countries. Bit2me worked with the regulator to demonstrate that it complies with all legal criteria.
The exchange claimed in a press release that:
“The entry of Bit2Me in the registry of the Spanish regulator is one more step in the massive adoption of Bitcoin and the rest of cryptocurrencies in Spanish society.”
Nowadays, Bit2Me is one of the leading crypto exchanges, not only in Spain but also becoming more popular all over the world. It offers numerous features, like Bit2Me Academy, that definitely deserve your attention if you want to be a part of the digital world and know all the crypto terminology like Michael Saylor. Accepts Credit, Debit Card Payments, and Bit2Me Debit Cards, the last one is my favorite because I’m totally certain that we’ll pay for oranges in the supermarket with Bitcoin and the leading crypto exchanges have to launch their crypto cards. Bit2Me card ATMs are a convenient way to access your BTC funds in the form of euros. With over 10,000 ATMs located across Europe, you can easily withdraw your funds in fiat money. At this point, the same success was achieved by the WhiteEX Card that was launched by the WhiteBIT exchange, to which we will return a little later.
2⃣ Yesterday, we read the news that crypto exchange Ripio has been approved to operate in Spain. Sebastián Serrano, the CEO of Ripio, announced the news on Twitter on Tuesday, stating that the company could now provide its services to Spanish-speaking clients. A Web3 wallet is one of the cryptocurrency solutions that Ripio provides in addition to exchange.
3⃣ Last week, Crypto.com announced that it had received its Virtual Asset Service Provider (VASP) registration from the Bank of Spain and claimed:
“Receiving the VASP registration from the Bank of Spain is the latest testament to our commitment to compliance and eagerness to work with regulators and public officials in responsibly advancing crypto and blockchain technology,” said Kris Marszalek, CEO of Crypto.com. “We look forward to continuing to work with the Bank of Spain as we launch our products and services in-market and providing users with the comprehensive, safe and secure crypto experience that they desire.”
4⃣ And a few days ago, one more exchnage has obtained a Virtual Asset Service Provider (VASP) registration in Spain- WhiteBIT. Moreover, this company became the official partner of FC Barcelona and the cooperation involves not only media presence during games of the main teams, but also star collaborations, joint projects, and much more.
Volodymyr Nosov, WhiteBit CEO claimed:
“The start of our warm relationship with the legendary Barça as an official crypto exchange partner is a significant step for the community as a whole, and for us it is also a great pride and responsibility.”
I honestly can say that I’m infinitely glad to hear that cryptocurrency has reached a level like partnerships with football legends. Especially continuing to scale it more and more.
As Volodymyr Nosov said about the future of the digital world:
“Crypto has already been shaping the future world. WhiteBIT’s team is doing its job not just for profits but to show that crypto is safe, far more advanced, and flawless in many ways. Right now, it is used more as a way to make money. Even in my native city Kharkiv, people hold assets mostly to store their savings. Yet, the full potential of cryptocurrencies will manifest itself in a digital world. I and all of my company’s workers look forward to that day. WhiteBIT will continue providing the highest level of security and user experience to ensure anyone has access to a better future.”
In my opinion, Spain is a fully potential country for developing digitalization inside it. It has the economic and financial resources to make claims like that. Now, Spain has all the perspectives to become the Global Crypto Hub.
