Bit2Me Raises $23.9M After Several Successful Token Sales
September 25 2021 - 11:36AM
NEWSBTC
Spanish cryptocurrency exchange, Bit2Me, has successfully raised
$23.9 million (20M EUR) following three highly-demanded public sale
rounds for its newly launched token, B2M. The first public sale,
launched on September 6th, 2021, saw a staggering $5.9 million
raised in just 59 seconds, followed by a second which raised $8.8
million in just 47 seconds. The final phase sold out in just 38
seconds, involving over 7,000 participants. Each marks some of the
quickest and largest grossing for a public sale of an
exchanged-based token in crypto history. In addition to this
staggering retail demand, Bit2Me also drew on its existing network
of partners and investors, securing a further $3.3 million in
private funds. Moreover, the Spanish exchange is confident this
momentum will carry through to November 1st when B2M goes live on
Bit2Me’s own cryptocurrency exchange, given both the figure raised
so far and the growth of and interest from the community since B2M
was launched. Commenting on the token sale’s success, Koh Onozawa,
a recent addition to Bit2Me’s advisory board, said that the sales
are the product of “6 years of hard work and community building”
undertaken by Bit2Me, with the team having “bootstrapped” the
exchange from a small unknown exchange, to one of the largest in
Europe, and the largest in the Spanish speaking world. Onozawa went
on to say that the team is excited to see what the future brings
for the exchange and the change and impact it will have on the
cryptocurrency exchange industry as a whole: “We [Bit2Me] won’t
stop until everyone can easily discover access and operate with
crypto in their day-to-day lives.” Evolving the Cryptocurrency
Exchange Industry Indeed, pursuant to this mission, Bit2Me has been
on a development spree, reflecting its aim to become a one-stop
ecosystem for all things cryptocurrency-related. Their product
portfolio, aptly named the Bit2Me Suite, consists of a range of
products specifically designed to cater to the bespoke needs of its
committed user-base. These comprise a series of exchange services,
including Bit2Me Wallet – a multi-asset storage and exchange
application that hosts over 60 different crypto assets, Bit2Me
Trade – a high-frequency trading platform supporting market, limit
and stop-limit orders and an over-the-counter (OTC) trading desk to
support high-volume transactions. Additionally, Bit2Me has rightly
focussed on the area of the crypto-world which still arguably
requires a significant amount of attention – fiat-crypto off and
on-ramps. Bit2me Pay and Bit2Me Card provide payments solutions for
cryptocurrency traders, allowing them to purchase crypto-assets
with fiat currencies and spend crypto-assets using traditional
online payment gateways. In addition, the Bit2Me ecosystem also
offers community-focused products like Bit2Me Academy for crypto
learning, Bit2Me News, Bit2Me TV, directory services, event
listings, loyalty programs and a range of on-demand services for
the community. B2M: Powering The Bit2Me Ecosystem Powering all of
this is Bit2Me’s newly-launched, Ethereum-based token, B2M. B2M is
a utility token that acts as a medium for information and value
exchange in the Bit2Me ecosystem. Users can pay for Bit2Me’s
educational resources, such as courses in the Bit2Me academy using
the ERC-20 token, and even receive exclusive discounts (up to 90%)
on content. These discounts also extend to fees paid when using
Bit2Me’s exchange services, including Bit2Me Trade and Bit2Me
Wallet. You will obtain these benefits only by holding B2M, you
won’t need to spend it. Finally, borrowing from the decentralized
finance (DeFi) space, Bit2Me’s token will power the cryptocurrency
exchange’s borrowing and lending facility. Users who effectively
“stake” other cryptocurrency assets, such as Bitcoin (BTC) or
Ethereum (ETH), making those assets available to be borrowed by
others for trading purposes, will receive an interest payout. If
lenders agree to receive these payouts in B2M, their earned
interest will be significantly higher. Finally, the team behind
Bit2Me is also considering including a governance feature within
B2M’s framework which will allow holders to vote on the platform’s
product offering and additional features. This might include voting
on specific features, cryptocurrency listings up and the general
direction of the exchange. If the successful public raise is an
indicator of future success, Bit2Me is destined to be a giant in
the cryptocurrency exchange space and remain as such for a long
time into the future. To learn more about B2M and Bit2Me’s suite of
cryptocurrency exchange services, visit their main page here.
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