Bit2Me Crypto Exchange Decided To Absorb 2Gether Customers

Bit2Me crypto exchange is a Spanish platform that decided to absorb customers from the 2gether exchanges whose accounts got frozen so let’s read more today in our latest cryptocurrency news.

The Spanish crypto exchange announced that it will onboard 100,000 investors from the 2gether platform. The crypto exchange was severely affected by the market downturn and was unable to sustain itself during the industry conditions which is why it decided to impose a ban on trading. 2gether is a trading exchange that also had to shut down its trading services earlier this month.

The reason behind this move was the inability to fulfill operational costs because of the industry crash. The users were being charged 20 EUR maintenance fees and if they wanted to continue trading, they had to transfer cash and accounts to the company’s platform. The Bit2me crypto exchange decided to make an agreement and absorb the disrupted crypto investors so the absorption will happen by taking the users without imposing fees and the onboarding will reimburse 20 EUR to the users. Bit2Me will allow the users to transfer and move their holdings in order to resume trading activities.

At the time when 2Gether imposed a ban on consumer access as well as rubbing out the social media presence, the customers of the platform got a notification about the issues. 2Gether blamed the market conditions for this situation and because of the financial crisis, the exchange company scrapped the free account services. The founder Leif Ferreira stated:

“Training, knowledge, and innovation are the keys to bringing this sector to the whole of society. At Bit2Me we are committed to what we believe. For us, the world of cryptocurrencies and blockchain technology is and will be key to our present and future. For that reason, we want to be next to 2gether users who want to continue to be linked to the crypto ecosystem.”

The bank of Spain registered Binance’s Spanish subsidiary which is Moon Tech Spain which was registered as a virtual asset service provider so the exchange shall also be allowed to offer crypto trading services in Spain. Zhao is also thinking that effective regulation is needed for crypto to witness mass adoption:

“We have made significant investments in compliance and introduced AMLD 6 and 5 compliant tools and policies in order to ensure that our platform is the most trusted and safest in the industry.”

Bit2Me announced that the company started a new office in Brazil and wanted to take care of the marekt with more than 20 million customers that hold crypto within the country and also worked through the complaince and the security issues.