Riding on the cryptocurrency boom and increasing popularity of crypto trading in the European region, Israeli cryptocurrency exchange, Bit2C has announced its expansion into Europe through a way of business merger. Bit2C has partnered with a company called EYOS, based in Gibraltar.
Bit2C has not specified the details of the merger nor it can be verified independently as the EYOS does not have a website and no other relevant information on the web. The salient facts of EYOS are that it is a blockchain company established in 2017 and is in the final stages of receiving distributed ledger technology (DLT) license from the Gibraltar Financial Services Commission. The DLT license allows firms to offer a range of financial services in connection with cryptocurrency.
Bit2c was established in 2013 and is based in Holon. The company claims to have approximately 20,000 registered clients and in the last 24 hours, it has generated $36,613 worth of cryptocurrency trades, according to data published in coinmarketcap.com. Currently, it offers six different cryptocurrencies for trading and is restricted its offering because of regulatory uncertainty. It plans to expand its cryptocurrency offering once it gets a license in both Israel and the EU.
According to Bit2C, the deal of merger is being executed by way of a share swap arrangement and according to a statement released by Bit2C, its aim is to increase the liquidity of the cryptocurrency market in Europe.
Bit2C CEO Eli Bejerano said:
“This is a significant breakthrough in the accessibility of unique Israeli technology and the providing of professional and experienced service to all of Europe, all under a license that will enable a range of trading activities, payment options and cooperation with traditional financial institutions such as banks, credit companies and insurance companies.”
Gibraltar is a British Overseas Territory and shares its borders with Spain. It created its DLT license framework in January 2018 after initially deciding in October 2017 that it wants to attract business in the crypto sphere. In March, it released guidelines for operating an ICO legally.
