Amazon recoils from the world of cryptocurrencies: it no longer sees them as badly as before

Amazon’s history has not gone hand in hand with cryptocurrency companies. It was a business that the enterprise division, Amazon Web Service, had pushed back. When in doubt, it is better not to host any model on which the long shadow of doubt may fall. Although this could open up a long list of doubtful decisions, those who have undertaken in this sector have had to look to Microsoft Azure or Google Cloud for their referral service. Until now. Through Bit2Me, a Spanish exchange platform, startups in the cryptocurrency sector will be given access to Amazon Web Service (AWS) services.

Called AWS Activate, the goal is to choose a series of projects that fit the Bit2Me requirements. That is, they develop projects through the token that the company launched in September 2021. The B2B, which was born to shape the launch of the company’s ICO – and for which they achieved 20 million euros that would materialize a round of financing without diluting the capital of the technology company–, is a product that wants to be placed at the center of the decision.

After the selection of the projects, which aims to promote companies in the cryptocurrency sector, those selected will be part of the AWS Activate and the $100,000 in credit to spend on any of the services that Amazon has in its portfolio. . Among them, hosting the cloud of crypto companies that want it.

Only crypto companies? Yes and no. According to Leif Ferreira, “if a good opportunity comes from any sector, it will be taken into account, but logically there will be a trend that leans towards the cryptocurrency business.” At a global level, yes, but with a clear trend: there will be a predominance of Spain and Latin America. Regions in which the Spanish company has a track record and where it has more opportunities to grow. There where Coinbase, the world leader, does not have special attention. A point that has already encouraged the attempt to buy the Spanish by the American and that ended in negative.

Amazon, the company that denied Bit2Me the maximum

What did not work for some, may at least work for others. Bit2Me’s cloud storage systems reside at Google. It was, like Microsoft, one of three options available at the time. Specifically in 2015, when the company was founded. It was not the first option at hand, it was Amazon, but Bezos’s company was very clear: no cryptocurrencies at a time when doubt was still in the air.

Now it is too late to change, but not for the new companies in the sector: “Amazon separated from the crypto world, but now they have understood that it is an unstoppable sector and they want to be there,” says Leif. Although it is late for many, it is not for others. Amazon knows that it has to capture startups in the industry from the get-go. “So they can grow with them,” he concludes. And once inside, there is virtually no going back.

And is not for less. The crypto active sector, and the entire ecosystem that surrounds them, aim to be increasingly complex. With a world economy that is not going through its best moment – with skyrocketing inflation and war in Ukraine that complicates geopolitics – the situation increasingly points to cryptocurrencies. A model that, until two days ago, did not have any regulation is receiving the approval of Governments and Institutions. Slowly. The DAO to help in the war in Ukraine, the regulation of El Salvador, Argentina with stable coins for an economy in continuous fluctuation or the attempt of the United Kingdom to position itself as the country of reference for these currencies… The list, once associated with cybercrime, is increasingly on the side of what is new in financial systems.