Spanish startup Bit2Me has won $10,000 for its new blockchain-powered remittance app Hive.

The startup was awarded the prize after pitching Hive at FinTech Americas’ hackathon, held in Miami last week.

Hive is a peer-to-peer app that leverages blockchain technology to enable the transfer of funds between users, who can top-up their accounts with either bitcoin or credit cards.

According to a statement, Bit2Me is looking for additional funding to continue development of Hive.

The company also operates and app that allows users to convert bitcoins into euros via more than 10,000 ATMs across Spain.

Bit2Me is the latest company in the space to win at a FinTech competition. Earlier this month, blockchain startup Hyperledger won $50,000 at the Innotribe Startup Challenge at Sibos conference