Friday, February 3

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

Bit2Me already has its roadmap ready for next year. After a record-breaking 2021 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, advances to EL ESPAÑOL-Invertia the keys to a demanding expansion plan that basically has two levers. The first, that “Cryptocurrencies are beginning to be mainstream. The second, the resounding reception reaped by the fintech in its initial offer tokens (ICO) of its own through which it has raised 15 million euros.

“I’m still surprised,” admits Ferreira when assessing the market’s reaction to the launch of B2M, which is the name of the token platform-specific. And the fact is that, as he explains, “the community has grown tremendously 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 every next month.”

From Portugal to Brazil

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

From recent landing in Portugal, “which is becoming a Silicoin Valley for policies of attraction and innovation that I would like in Spain” -says Ferreira-, the fintech intends to make the leap to Brazil. The experience gained in the neighboring country and the potential of an economy that “by itself is four times Spain or a Europe” has encouraged them to begin their landing in the Americas 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, they understand very well the cryptocurrencies as a tool of life and technology is penetrating a lot through the smartphones”, argues the CEO of the fintech.

However, before this leap, the Spanish firm will launch in January one of the utilities that “the community had been most in demand for”: its own rewards program. “Bit2Me Earn It will allow you to generate new cryptocurrencies with your own cryptos, 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 distribute throughout the next year, which will be distributed proportionally” depending on how many cryptocurrencies are contributed and the time of permanence. “The objective is to encourage them to maintain the token in portfolio, don’t sell it, so that we can continue developing the entire ecosystem that we want to create around it”.

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

And the expansion does not end there. Throughout the first semester, they also want to have launched 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 NFTs.

“When summer comes, we will ask ourselves how we 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 driven 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 has finally happened, although the effect has been the same”, explains the founder of the fintech.

The numbers they handle on the platform are eloquent in this regard. Bit2Me is about to close the year with “close to half a million open accounts”. Users who are becoming more and more 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 we moved in 2020”.

Behind these figures, an increasingly heterogeneous profile. “When we started, being man between 35 and 55 years old linked to the world of technology and finance, but now we find that cryptocurrencies are becoming a transversal asset”, analyzes Ferreira looking back to the year 2015 in which the firm started.

Although 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 regulation of advertising that was defined as a result of one of his massive campaigns, until the impossibility of finding for the moment a national bank where to open a corporate account.

More hands on the wheel

Meanwhile, the expansion plan also requires more hands to ensure its success. The firm’s plans go through “double staff 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 joined and with a turnover rate that barely stays at 3%.

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