Bit2Me Acquires Peruvian Crypto Exchange

The biggest Spanish cryptocurrency exchange, Bit2Me, said on Thursday that it has acquired the majority of Fluyez, a Peruvian competitor.

According to Bit2Me COO Andrei Manuel, the cost of the purchase of the 85% stake was more than 1 million euros ($1.022 million), but he did not provide a specific amount. As of March 2021, Luis Eduardo Berrospi will continue to serve as the co-founder and CEO of Fluyez.

According to Manuel, the Peruvian company intends to increase its user base from 10,000 to 100,000 over the course of a year and will retain its current identity after being bought.

According to Manuel, Bit2Me is also in talks to purchase an exchange in Chile and is also interested in acquiring exchanges in Uruguay and Colombia throughout Latin America. He went on to say that the targets should be between $1 million and $20 million.

“We are looking for companies that are fully compliant, have users, a wallet where you can exchange cryptocurrencies and fiat, and a solid team,” Manuel said.