Tether-backed crypto exchange is ditching the ‘retail’ label to build the secret plumbing for Europe’s biggest banks
Spain's largest crypto exchange, Bit2Me, is shifting focus from retail to providing backend infrastructure for major European banks.Summary
Spain's largest cryptocurrency exchange, Bit2Me, which is backed by entities including Tether, Bankinter, and Telefónica, is pivoting from a consumer-facing platform to building backend infrastructure for major financial institutions in Europe. The exchange achieved €5.3 billion in trading volume in 2025 and saw its business-to-business revenue grow to 27% of its total. Having secured the first EU Markets in Crypto Assets (MiCA) license in Spain, Bit2Me is expanding into Portugal, Italy, France, and Germany. Furthermore, the company acts as a "crypto liquidator" for the Spanish government, converting seized digital assets for state agencies like Interpol and Europol into fiat currency, a process utilizing blockchain analytics firm Chainalysis.
(Source：CoinDesk)