MADRID, 13 MAY 2024. Cecabank has entered into a partnership with Bit2Me, the country's leading digital asset exchange company, registered with the Bank of Spain as a provider of virtual currency services. The alliance takes the form of an equity investment by Cecabank in the share capital of Bit2Me.
The initiative is part of the Inizia programme, deployed by Cecabank to tap into growth opportunities in the Fintech, Insurtech and Regtech segments. With this alliance, Cecabank consolidates its roadmap as a benchmark provider of post-trading services for digital assets, similar to its position in the fiat market.
With this deal, Cecabank strengthens its capabilities ahead of the changes and developments that the new European regulation on crypto-assets will bring. The MiCA Regulation will enter into force in two phases: the first, as of 30 June 2024, will affect the authorisation scheme for the issuance of e-money tokens and referenced tokens; the second, which will begin on 30 December this year, will cover all other crypto-assets and applicable rules of conduct. This new regulation will provide a new framework of legal certainty for the digital asset market.
In the words of Aurora Cuadros, Corporate Director of Securities Services at Cecabank: 'Our bank has already implemented solutions and continues to build more in order to ensure the comfort of institutional investors and financial institutions with an appetite to operate in these new markets with the same standards of quality and excellence that exist in the world of traditional assets. The alliance with Bit2Me is a further step on that path'.
According to Leif Ferreira, CEO and co-founder of Bit2Me, 'This investment, along with earlier investments, reflects the confidence that large corporations and banks have in our transparent approach and solid roadmap. With our API, we are facilitating secure and efficient access to the crypto ecosystem for banks, corporations and institutions, and this partnership with Cecabank will allow us to further expand our offerings and reach a wider audience'.
Abel Peña, Chief Sales Officer of Bit2Me, believes that 'this new alliance with Cecabank marks a significant milestone for Bit2Me as we continue to expand and improve our services, which are already being used by dozens of financial and institutional customers. This investment not only displays confidence in Bit2Me as a trusted partner, but also underlines our determination to drive the adoption of digital assets in the corporate environment. We are ready to take advantage of this opportunity and take our offer to the next level'.
