On July 10, Spanish cryptocurrency trading platform 2gether shut down its free trading services, citing its inability to justify its related operational costs due to crypto winter.
Following a recent agreement between the two crypto exchanges, Bit2Me announced plans to onboard 2gether’s 100,000 crypto investors, who were recently blocked from trading due to the exchange’s inability to operate amid unfavorable market conditions.
On July 10, Spanish cryptocurrency trading platform 2gether shut down its free trading services, citing its inability to justify its related operational costs due to crypto winter. Instead, the users were being charged 20 euros as maintenance fees.
Providing relief to the recently displaced crypto investors, Bit2Me reached an agreement with 2gether to onboard its users without imposing any fees — allowing users to move over their holdings and resume their trading activities. In addition, Bit2Me decided to reimburse the 20 euros back to the users following successful onboarding.
Reassuring his commitment to Spain’s crypto market, Leif Ferreira, CEO and co-founder of Bit2Me, stated:
“The world of cryptocurrencies and Blockchain technology is and will be key to our present and future. For that reason, we want to be at the side of 2gether users who want to remain linked to the crypto ecosystem”
The Bank of Spain recently registered Binance’s Spanish subsidiary, Moon Tech Spain, as a virtual asset service provider (VASP), allowing the exchange to offer crypto trading services in the region.
Binance CEO Changpeng “CZ” Zhao highlighted the importance of effective regulation for the widespread adoption of cryptocurrencies, adding:
“We have invested significantly in compliance and introduced AMLD 5 and 6 compliant tools and policies to ensure that our platform remains the safest and most trustworthy in the industry.”