Journalist
Sead Fadilpašić
Journalist
Sead Fadilpašić
Share
Crypto exchange CEX.IO has announced the launch of its brand new operational hub in Spain, moving deeper into the European market.
According to the press release, the exchange has obtained a Virtual Asset Service Provider (VASP) registration from the Bank of Spain in July 2024. Before opening this new entity, CEX.IO served its Spanish users through the existing Lithuanian entity.
Therefore, this is the company’s second entity in Europe. It will enable the team to offer “a localized experience” and, with it, grow its presence in Spain.
Furthermore, the move also enables CEX.IO to expand its footprint in the region in general.
The platform allows buying and selling crypto, spot trading, staking, and savings. The supported payment methods include card transactions and SEPA (Single Euro Payments Area) to deposit funds, as well as SEPA to withdraw assets.
Eduardo Marin, CEX.IO Managing Director in Spain, said that “securing a local license enables us to better tailor our services to the market and strengthen our presence. Based on current momentum, we anticipate continued growth in the region.”
94% Surge in Spain-Based Transaction Volume
Managing Director Marin further commented that CEX.IO chose Spain as the second European hub because it has emerged “as a leader in cryptocurrency adoption, with a steadily growing user base.”
The exchange’s internal data showed that in Q1 2025, wallet transaction volume among Spanish users surged by 94% quarter-over-quarter. At the same time, spot trading volume jumped by more than 340%.
Furthermore, per Statista, revenue in Spain’s crypto market is projected to reach $1.3 billion this year.
But the exchange will not stop here, the team says. This license is part of its broader strategy, as it’s pursuing more of them. CEX.IO is currently in the process of acquiring a MiCA license, which will enable it to significantly grow its presence in the European Union.
At the time of writing, the exchange holds 40 licenses and registrations worldwide. This includes 35 Money Transmitter Licenses (MLTs) in the US, a license in Spain, a registration in Lithuania, and a FINCEN registration.
Meanwhile, in September 2024, CEX.io partnered with financial services company MoneyGram and the Stellar blockchain to boost its crypto cash-in and cash-out capabilities. This way, the exchange’s users gained access to conversion between USDC and cash.
The integration initially targeted customers across the European Economic Area (EEA), Africa, and Latin America.
Credit: Source link
