Spain's Central Bank Authorizes Bit2Me to Become the Country's First Crypto Service Provider

Spanish cryptocurrency exchange Bit2Me announced Thursday that it has received approval from Spain’s central bank to become “the first service provider to convert virtual currencies into fiat currencies and to host digital wallets.” Bit2Me will now be able to white-label Spanish banks, allowing crypto transactions on its platform, adding that it is currently in talks with “several banks.” Bit2Me, which provides crypto services in more than 100 countries, will have a transaction volume of 1.1 billion euros ($1.25 billion) in 2021, the company said in a statement.