Unicaja Bank, one of Spain’s top five banks, recently announced its venture arm’s investment in cryptocurrency exchange Bit2Me. Bit2Me, which boasts over a million customers, was the first crypto exchange registered by the Bank of Spain. Although the terms were not disclosed, Unicaja has taken more than a 5% stake in Bit2Me and joined its board, with both companies also signing a commercial collaboration agreement.
The partnership aims to explore opportunities arising from the EU’s MiCA regulations, asset tokenization under the DLT Pilot Regime, and blockchain technology, as well as the digital euro. Unicaja CEO Isidro Rubiales stated that this deal will help the bank anticipate future trends and adapt its services to customer demands. Bit2Me, in turn, plans to offer Unicaja banking services to its users.
While many banks have ventured into cryptocurrency, direct investments in crypto exchanges are relatively rare. An example is Siam Commercial Bank’s attempted purchase of a 51% stake in Thailand’s largest crypto exchange, BitKub, which eventually fell through due to regulatory requirements.
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