Spain-based cryptocurrency exchange Bit2Me recorded an increase in trading volume in 2025 due to a strategic shift from a retail front to a backend infrastructure for banks and law enforcement.
Inside Bit2Me’s Strategy
Tether-backed Bit2Me, the largest crypto exchange in Spain, took off after 2023. Their trading volume shot up eight times, hitting a massive 5.3 billion euros, equating to $6.24 billion by 2025, due to their strategic approaches. Instead of just focusing on regular customers, it started providing the essential tech backbone for larger players like banks and even law enforcement.
According to the company CFO, Pablo Casadio, the crypto industry is slowly moving into the financial infrastructure phase, where Bit2Me has an advantage.
The company isn’t just benefiting from market hype but also from the growth in business-to-business (B2B) revenue, earning more from partnerships and institutional clients rather than just individual users. The exchange’s share of B2B revenue grew from 18% to 27% between 2023 and 2025, respectively. Crypto-backed loans, a relatively new product, rose 672% in a year.
Acting as a ‘crypto liquidator’ for the Spanish government, Bit2Me has built a ‘pipeline’ to convert confiscated digital assets into euros.
Last year, some of the banks backing the exchange, including Bankinter, Unicaja, and Cecabank, as well as telecom giant Telefónica and Tether, all made $25 million in revenue.
Bit2Me accelerates EU crypto expansion
Bit2Me reached its success through its new API product, which enables institutions to effectively ‘outsource’ their crypto requirements without needing their own infrastructure.
Spanish bank Cecabank, which also holds a stake in Bit2Me, utilized the company’s infrastructure to provide regional banks with digital asset services. The company also has a liquidity agreement with Garanti BBVA Kripto, BBVA’s Turkish crypto subsidiary.
Bit2Me became the first Spanish exchange to secure approval under the Markets in Crypto-Assets Regulation (MiCA), the EU’s new crypto regulation framework. During a briefing, the company executives said they spent 3,000 hours and 2.5 million euros, or $2.9 million, on the regulatory-compliant work.
The decision pushed its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) into negative territory temporarily; however, expansions across Europe give it credibility with banks and institutions.
The company recently announced its expansion into the Portuguese market, beginning last week. Future expansion plans include entering the Italian, French, and German markets. It also has aspirations for more competitive markets, such as the U.S. and the Middle East.
“If we do anything, it needs to be done the way we did it in Spain, everything by the book,” Andrei Manuel, the platform’s COO and co-founder, said during the official briefing.
Confiscated digital assets into fiat
The company executives stated that they are collaborating directly with Interpol, Europol, and the National Police to convert the confiscated digital assets into euros. The firm uses blockchain analytics firm Chainalysis for traceability.
