The Spanish exchange will hire 250 people in the coming months and is expanding in Latin America. But not all of them enjoy the same luck.
- Bit2Me will increase its staff and make three acquisitions.
- That exchange is growing, but other crypto firms face difficulties.
- Compass Mining joins the ranks of companies laying off staff.
The cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchange based in Spain, Bit2Me is driving efforts to continue to grow in the midst of the bearish season.
En interview with CoinDesk the CEO and founder of Bit2Me Leif Ferreira said the company expected to double its workforce in the coming months. As it continues to move forward with its expansion plans, the company’s exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. is preparing to add 250 new employees to its workforce within 12 months.
The move is the opposite of many other companies in the cryptocurrency industry, which have opted to cut staff amid the market turmoil. As reported by DiarioBitcoin platforms known as Gemini y Coinbase is an American company that operates a cryptocurrency exchange platform. have announced layoffs in recent weeks. Latin American exchanges such as Bitso, Bitcoin Marketplace , Buenbit .
“ In a context of many layoffs, now is the time to hang on and build “, dijo Ferreira. “ Cryptocurrencies won’t stop, no matter how much prices have fallen “.
Bit2Me to hire more than 200 people
In addition to hiring, Bit2Me is also preparing to make three new acquisitions. Ferreira revealed that the company has signed memoranda of understanding for three acquisitions including the purchase of a 90% stake in a Latin American stock exchange and the acquisition of a company fintech and a software developer, both based in Spain.
Although details of these deals have not yet been released, the director said they will release more information in the coming days. Ferreira also explained that funding for the expansion, both for new staff and acquisitions, will come from the firm’s cash cash is the most liquid form of money: physical coins and banknotes in the most narrow sense of the term. on hand; including part of the 20 million euros (USD $20.3 million) raised through an initial coin a coin can refer to a cryptocurrency that can operate independently or to a single unit of such cryptocurrency. offering that took place in 2021.
However, as reported by CoinDesk The founder did not rule out the possibility of adding capital capital is most commonly defined as the large sum of money you would use to invest. through a strategic partner. “ No es algo que necesitemos o queramos cerrar de inmediato “, he said. “ We are open to a strategic partner coming in. It is not an obsession for us ”.
The news comes at a time of growth for the platform. Bit2Me which has a significant presence in Spain and Europe, has recently been expanding into Latin America. The exchange entered the Brazilian market in May, and already offers services in Peru, as well as France, Italy and Portugal, as noted by CoinDesk .
Continuous growth efforts
In addition to these plans, Bit2Me has also announced other strategies to secure its position in the cryptocurrency industry. According to Ok Diary the company could soon be competing with traditional banking, as it will be able to is working to offer loans to the consumer guaranteed by the cryptocurrencies that customers have deposited on its platform.
The loans will have an average annual interest rate of between 3% and 6% and will be aimed at both individual customers and companies, according to the report. The payment of interest will be in cash and the guarantee to apply for the loan will be on the value of cryptocurrencies that customers have at the time of signing the contract, it adds.
The Spanish exchange is expected to announce the product later this year; in the meantime, Bit2Me also plans to introduce a debit card Mastercard a futures a futures contract is a standardized legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future. trading platform, and a feature to allow online stores to receive payments via cryptocurrencies, all this 2022, as reminded by CoinDesk .
Bit2Me is currently one of the largest exchanges cryptocurrency exchange in Spain. It has about 600,000 users, 70% of which are in that European country. In fact, in February of this year, it became the first digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency currency is a medium of exchange that defines value. exchange in obtain a license of the Banco de España (the nation’s central bank).
Wave of layoffs sweeps crypto-industry
The news of the exchange Spanish arrive just when Compass Mining a process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created. a mining company of Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. , joins the list of crypto industry firms opting to cut staff amid the market’s price slowdown.
According to a informs of CoinDesk published this Friday, the mining company laid off 15% of its employees y ha recortado la compensación ejecutiva. Compass Mining cited current market conditions in a press release and added that it needed to restructure its strategy moving forward. The company has about 80 employees according to its profile on Linkedin .
“ Given the recent market an area or arena, online or offline, in which commercial dealings are conducted. downturn and anticipated future market conditions, we had to take a hard look at our spending and recalibrate for the future of the business. “said co-founders Thomas Heller and Paul Gosker.
Many other companies have announced staff reductions, including exchanges such as Bitpanda , Crypto.com y BlockFi . Some companies in the sector appear to be struggling financially as cryptocurrency prices fall; and even several of the major miners contributors to a blockchain taking part in the process of mining. They can be professional miners or organizations with large-scale operations, or hobbyists who set up mining rigs at home or in the office. have been selling their bitcoins to keep its operations reliable.
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Article by Hannah Estefania Perez / DiarioBitcoin
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