Crypto Exchange Bit2Me decides to rescue 2gether customers after the account block
Bit2me, a Spanish cryptocurrency exchange, has decided to absorb customers from 2gether whose accounts are frozen by 2gether, which is also a cryptocurrency exchange. This Spanish crypto exchange has announced that it will board 100,000 investors from 2gether.
2gether has been strongly affected by the market downturn and failed to maintain under the unfavorable industry conditions and introduced a trade ban. 2gether is also a Spanish cryptocurrency exchange that had to shut down its trading service earlier this month.
The reason behind such a move was the inability to meet operating costs due to industry crashes. Users were charged 20 euros maintenance fees. For users of 2gether, if they wish to continue trading, they must transfer cash and accounts to the company’s platform.
Bit2Me has now formed an agreement to absorb displaced and disturbed crypto investors. The absorption will take place by taking the users without imposing any fees. Now after onboarding, Bit2Me will refund 20 euros to users.
Bit2Me steps up to provide relief to 2gether disturbed users
Bit2Me without imposing any fee will allow the user to transfer and move their holdings so that they can resume their trading activities.
At the time when 2gether introduced a ban on consumer access along with rubbing out the presence on social media this month, the company’s customers were notified of the problems.
2gether blamed the market conditions for such a situation. Due to such a financial crisis, the listed company scrapped the free account service.
Bit2me co-founder and CEO Leif Ferreira stated that,
Education, knowledge and innovation are the key 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 the key to our present and future. For that reason, we want to be next to 2gether users who want to continue to be connected to the crypto ecosystem.
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Other developments
Bank of Spain has recently registered Binance’s Spanish subsidiary, Moon Tech Spain. Moon Tech Spain has been registered as a virtual asset service provider. Under this scheme, Oslo Børs will be allowed to offer crypto-trading services in Spain.
Changpeng CZ Zhao is of the opinion that effective regulation is mandatory for crypto to witness mass adoption. He further mentioned,
We have made significant investments in compliance and introduced AMLD 6 and 5 compliant tools and guidelines to ensure that our platform is the most reliable and secure in the industry.
Bit2me also announced that the company has started its new office in Brazil in May. Bit2me wanted to take care of the current market, which has more than 20 million customers who hold crypto in the country. It has also worked through compliance and security issues.
Related reading | Bitcoin volume saw false peaks due to Binance’s fee waiver
Featured image from Inversion.Es, chart from TradingView.com
