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One of the biggest retailers and distributors in Spain, El Corte Ingles, is reportedly launching its own cryptocurrency exchange.
The new exchange will be created in partnership with Big Four firm Deloitte and hold the name Bitcor.
By making use of its current customer portfolio database, that exists of more than 11 million customers, the company is confident that its shoppers could make the jump into cryptocurrencies through a known company with which they feel familiar with.
El Corte Ingles registered the Bitcor name with the European Union Intellectual Property Office (EUIPO), with the goal of offering “financial services, financial transactions related to currency exchange and foreign exchange trading,” last year.
Following Spain’s recent changes in regulations for crypto related services, leading Spanish and Latin American crypto exchange, Bit2Me in February became the first platform to act officially as a recognized virtual asset service provider (VASP) in the country.