Both companies have created an alliance to improve the security of users’ funds. The agreement reinforces the treasury service that Bit2Me already had and includes a €150 million policy. But, will it be enough to incentivize companies to tokenize and help users who do not yet trust the crypto world?
We now have a massive variety of options for exchanging cryptocurrencies worldwide. Anyone who wants to join the crypto market should participate in one of these platforms, but make sure it is trustworthy. Why is this so important, and how do you check for security? Bit2Me is one of the companies that teaches a class on it.
Trust is the basis of the value of cryptocurrencies. They are entirely digital and decentralized assets that live only in the digital environment of the blockchain. The system itself is almost impossible to breach if the necessary measures are taken, but there is no backing in reality or by an institution on the value of cryptocurrencies.
For this reason, all platforms that allow cryptocurrency trading need to give their users maximum security for their wallets. And in this sense, Bit2Me has just taken a huge step as an exchange. But first, we need to know what Bit2Me is and a bit about its background.
What is Bit2Me?
It is a Spanish exchange that has recently worked to expand an ecosystem of services around it. The leading cryptocurrency you can trade on it is Bitcoin, but it also has other acquisition tokens that they have been adding to its portfolio.
Its users can trade from its Bit2Me Wallet to buy, sell, store, exchange, send and receive cryptocurrencies. For now, it has an exciting pool of services. Its commitment to its users is to be a bridge between cryptocurrencies and fiat money in a secure way.
The company emerged in 2014, one of the years when the crypto world had good growth. Since then, Bit2Me has made constant overtures to be more than an exchange and position itself as a solid platform in crypto education. Its development has led it to obtain permission from the Bank of Spain to be the first provider of this kind of service.
What does the relationship between Bit2Me and Ledger Enterprise involve?
To begin with, Ledger Enterprise is a global technology provider that opens doors for organizations that want to get started in the digital asset ecosystem securely. It comes as part of the following steps: Bit2Me is looking towards better treasury management, decentralized finance, NFTs, and governance token creation.
Bit2Me has just confirmed its agreement with Ledger Enterprise, the leading digital asset custody solutions company. The objective of this contract is to strengthen the cryptocurrency custody of the exchange, an essential step for its expansion in the international market.
The interesting thing about this alliance is the new layer of security that is only possible with a company like Ledger Enterprise. It uses a combination of hardware, software, and firmware to guard Bit2Me transactions. In this way, it also seeks to eliminate the possibility of third-party attacks.
The other side of the Ledger Enterprise deal is signing a €150 million insurance policy with UK insurer Lloyd’s. Lloyd’s has been operating in Spain since 1993 and has had offices in the country for 20 years. This is one of the most outstanding efforts made by the exchange in recent years to satisfy and protect its clientele.
This union aims to provide a greater security guarantee to Bit2Me’s clients. The alliance will be part of a new letter of introduction for the exchange in its expansion in the global market, which continues with its growth plans. It is expected that this contract will be inflexibly maintained in the long term by both parties.
