Tether, a prominent issuer of stablecoins, has recently made an investment of €30 million in the Spanish crypto exchange Bit2Me, acquiring a minority stake. This investment positions Tether alongside notable investors such as Telefónica and BBVA.

The funding aims to bolster Bit2Me’s expansion notably in Latin America, particularly in Argentina, where the exchange holds a Virtual Asset Service Provider license. This investment aligns with Bit2Me’s recent authorization under the EU’s MiCA framework, allowing it to operate throughout the European Union.

“We’re excited to support their role in developing regulated crypto-asset services in Europe and beyond,” said Tether CEO Paolo Ardoino.

This deal is a continuation of Tether’s strategy to invest in various tech infrastructures as it diversifies its portfolio beyond cryptocurrencies, having previously invested in various firms across different industries.