The Spanish crypto exchange player Bit2Me states it has launched an API for banks and firms searching to get involved with the crypto space.
An API is definitely an Application Programming Interface, essentially, an application-based intermediary platform that lets two applications talk to another. For example, a crypto exchange’s API could permit the buying and selling platform’s application to “talk” to some banking application – or the other way around.
Inside a pr release shared by Bit2Me on Twitter, the exchange described the API would effectively allow banks “to provide the purchase and purchase of [cryptoassets] to clients with no need to create an exchange” that belongs to them.
The service, the organization stated, continues to be “specially created for controlled entities” – and traditional banks particularly. However the firm added that it is cool product “can also be employed by other companies,” including controlled neobanks, fintech companies, or government-run public institutions who “wish to begin participating in the “exchange, purchase, and child custody of crypto.”
The firm noticed that it’s also controlled through the Central Bank of The country and mentioned that, while using API, an industrial bank could start supplying crypto services to the clients “overnight.”
Additionally to buying and selling functions, the API enables tradfi players to provide earning and staking services – or store customer coins in cold custodial wallets.
Maybe There Is Any Tradfi Takers for that API?
Can be or no of Spain’s bigger banking players will build relationships Bit2Me’s cool product. They have so far expressed relative caution in most things crypto-related.
But Bit2Me, that also operates its very own eponymous token, has gotten substantial backing in the nation’s greatest telecoms player.
Recently, La Información reported that Telefónica had made an believed $$ 30 million purchase of the crypto exchange – an offer which makes the telecom giant among the greatest shareholders in Bit2Me.
The crypto firm can also be searching to create a mark in South America, where it’s been expanding its operations.
