Wednesday, September 28

Bit2Me launches its rewards program and heads to Brazil after multiplying volumes by ten

Bit2Me already has its roadmap ready for next year. After 2021 of records in which the Spanish cryptocurrency platform has multiplied its volumes tenfold, the fintech has planned the launch of its rewards program this January and, after having landed in Portugal, he sets course for his landing in Brazil.

The founder and CEO of Bit2Me, Leif Ferreira, gives EL ESPAÑOL-Invertia the keys to a demanding expansion plan that basically has two levers. The first, that “Cryptocurrencies begin to be mainstream. The second, the clamorous reception garnered by the fintech in your initial offering of tokens (ICO) through which it has raised 15 million euros.

“I’m still surprised,” admits Ferreira when evaluating the market’s reaction to the launch of B2M, which is the name of the token own platform. And, as he explains, “the community has grown a lot because we have gone from the initial 11,000 investors to having more than 40,000 tokenholders nowadays”. “Thanks to them we have the money to develop all our initiatives and that is what we are going to do in the coming months.”

From Portugal to Brazil

The objective of Bit2Me with the funds that it now has is to reach June “at the height of the largest competitor in the ecosystem cripto, which is Binance ”, says its founder in conversation with this portal. An objective that passes, in addition to the development of new products and solutions, also due to the arrival of the Spanish firm in new markets.

From recent landing in Portugal, “Which is becoming a Silicoin Valley for some policies of attraction and innovation that I would like in Spain ”-comments Ferreira-, the fintech He intends to make the leap to Brazil. The experience gained in the neighboring country and the potential of an economy that “alone is four times Spain or a Europe ”has encouraged his landing in the Americas to begin here.

Bit2Me promotional campaign in Lisbon, the capital of Portugal.

The calendar with which Ferreira and his team work foresees the arrival in the Latin American country around February. “Although the real is not a currency with extreme volatility, there they understand very well the cryptocurrencies as a life tool and technology is penetrating a lot through the smartphones”, Argues his plans the CEO of the fintech.

However, before this jump, the Spanish firm will launch in January one of the utilities that “the community had most demanded”: its own rewards program. “Bit2Me Earn It will allow you to generate new cryptocurrencies with your own crypto, that is, to give interest ”, he summarizes when commenting on its most imminent launch.

Not just rewards

The system, which arrives seven months after the premiere of its own Bizum, “has 100 million tokens B2M to be distributed over the next year, which will be distributed proportionally “depending on how many cryptocurrencies are contributed and the length of stay. “The objective is to encourage them to maintain the token in portfolio, don’t sell it, so that we can continue to develop the entire ecosystem that we want to create around it ”.

At no cost to the platform’s clients or minimum terms of permanence, the aim is to extend the success achieved in the ICO a few months ago. The founder of the fintech anticipates that, in the event that investors come with bitcoins, “the reward may be up to 7%”, while in its token own “will depend on the demand that is reached”.

And the expansion doesn’t end there. Throughout the first semester, they also want to have released your own payment card together with Mastercard -which is far ahead of Visa in terms of cryptocurrency tools-, its launchpad for the launch of tokens from third parties, its own loan circuit and its own payment processor for digital businesses. And without losing sight of opportunities in new areas such as the increasingly popular NFT.

“When summer comes, we will ask ourselves how we have had the courage to launch all this”, says Ferreira without hiding his enthusiasm. And he answers himself. If there has been a differential fact for cryptocurrencies in 2021, it is that “very powerful companies in the financial sector have already assumed them as their own”.

Accelerated growth

A drastic change that, in his opinion, has occurred “even in Spain” and that has been boosted by the outbreak of the pandemic. “In 2018 we already said that – unfortunately – we were going to need something bad to accelerate it. We all thought of a financial crisis, but nobody expected what in the end has happened, although the effect has been the same ”, explains the founder of the fintech.

The numbers they handle on the platform speak volumes in this regard. Bit2Me is preparing to close the year with “about half a million accounts open”. Some users who are increasingly active as evidenced by the fact that 2021 ends with “just over 1,000 million euros in transaction volume that has passed through our platform, which is almost ten times more than what we moved in 2020”.

Behind these figures, an increasingly heterogeneous profile. “When we started, it was very marked to be man between 35 and 55 years linked to the world of technology and finance, but now we find that cryptocurrencies are becoming a transversal asset”, Analyzes Ferreira, looking back to 2015 when the firm started up.

While the founder of the fintech frames this expansion in “the purest style of growth of a start-up“The truth is that there are still obstacles along the way. From the strict advertising regulation that was defined following one of their massive campaigns, until the impossibility of finding for the moment a national bank where to open a corporate account.

More hands at the wheel

Meanwhile, the expansion plan also requires more hands to ensure its success. The firm’s plans go through “duplicate workforce throughout 2022, both for incorporations in Spain and in the countries where we are going to be physically ”. If before the ICO the team had 80 people, in two months another 50 workers have been hired and with a turnover rate that barely stays at 3%.

An accelerated expansion that, for the moment, has reached clients of more than 110 nationalities although its managers defend that it still “has a very important potential for growth in Spain”. Ferreira does not know if “naturally or by mano divina de Shatoshi Nakamoto“, But he does defend that the firm domiciled in Elche” is being able to keep up with what the market and the community are requiring. “

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