Bit2C Exchange Shares Crypto Bank Growth Plans and its European Union Expansion Plans
Eli Bejerano, CEO of the Israeli cryptocurrency exchange Bit2C, has talked about their expansion plans and future goals for the company. Back in October, the company partnered with the company EYOS and launched its website Bit2C.com. This has been performed with the intention to settle the basis for its future expansion around the world.
After the deal, Bit2C received 100 percent of EYOS shares, and EYOS owners received 15 percent of Bit2c’s shares. In this way, the companies are working together in order to launch their platform as soon as they receive their DLT license. Apparently, in February 2019 they are expected to receive the license.
Bejerano said that they connected EYOS with Bit2C in order to expand in the market. About it, he commented:
“The decision was made to connect with EYOS because Bit2C was at the stage that it wanted to expand, and EYOS was at the stage that it had developed infrastructure in Gibraltar. More saliently, it was in the final stages of receiving a feted DLT license from the Gibraltar regulator.”
Bejerano said that the solution was good and positive for both parties since it provided a useful shortcut. Additionally, he explained that the final stage of the DLT license process is related to the technology being developed and a business plan. The intention is to start working and operating in the European Union (EU). Although Spain and France are attractive locations they would start from the United Kingdom and expand to other countries later.
However, they are also aware of Brexit and how the negotiations are going. Bejerano and the team know that betting on the United Kingdom is a double-edged sword.
For the future, the company does not want to be just a virtual currency exchange but it wants to become a cryptocurrency bank. People want a regulated place where to store and sell their tokens. But they do want to have a place that is reliable and does not experience flaws.
It is important to mention that Bit2C has also applied for a license from the Israeli Capital Market Authority half a year ago. During that time, the company has been operating with a temporary license. The firm is currently offering trading services with Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Bitcoin Gold (BTG), Ethereum (ETH), and Ethereum Classic (ETC). These have been selected, according to Bejerano, since they are not considered securities. In the future, the company is planning to integrate other virtual currencies as well.
Bejerano explains that he head about Bitcoin for the first time in 2011. In 2013, he started a website to provide information about Bitcoin, but Mt Gox went down a few months later. After it, he had a potential investors from Canada that was interested in buyinf a cryptocurrency exchange. At the moment, this exchange has 20,000 customers in Israel and the number is expected to continue growing.