Bit2Me, a leading Spanish crypto exchange, received approval as a virtual asset service provider (VASP) from Argentina's National Securities Commission (CNV), the company said Friday.

“This authorization reinforces Bit2Me’s position as a company aligned with local regulatory standards, which provides confidence to both investors and Argentine financial institutions,” the company said in a Spanish-language statement.

In March, the CNV opened the registry of virtual asset service providers, which is required for companies in the sector that want to operate in the country. The registry has 79 approved so far, according to an official list provided by the CNV.

In June 2023, Bit2Me raised $15 million in a funding round to grow its position in Spain and accelerate its expansion in Latin America. It has already taken concrete steps, among them the 2022 acquisition of a majority stake in the Peruvian peer Fluyez.

Also in 2022, Bit2Me obtained approval from the Bank of Spain to be a provider of services for the exchange of virtual currency for fiat currency and the custody of digital wallets in that country.

Edited by Stephen Alpher.