Bitfinex Derivatives, a Seychelles-based cryptocurrency platform, has successfully obtained a Digital Asset Service Provider (DASP) license in El Salvador, a key milestone in the company’s efforts to broaden its footprint across Latin America.
This newly secured license enables Bitfinex to offer derivative trading services through its subsidiary, Bitfinex Derivatives El Salvador S.A. de C.V. With this development, Bitfinex aims to introduce advanced trading options, including perpetual futures and options, to cater to both retail and institutional investors. To use these services, customers will be required to accept the platform’s updated terms of service.
The move underscores El Salvador’s continued push to become a global hub for cryptocurrency, particularly following its groundbreaking decision to adopt Bitcoin as legal tender in 2021. Since then, the country has fostered an environment conducive to crypto innovation and business.
Bitfinex’s DASP license complements El Salvador’s ongoing efforts to solidify its reputation as a leader in digital assets. President Nayib Bukele has been a central figure in promoting Bitcoin adoption, having accumulated over 6,000 BTC by the close of 2024.
Despite facing challenges, such as the IMF’s restrictions on public Bitcoin transactions and the discontinuation of the Chivo wallet, El Salvador’s government remains committed to advancing Bitcoin adoption and enhancing crypto education within its borders.
With its new DASP license, Bitfinex is poised to offer cutting-edge trading solutions, further embedding itself in the Latin American crypto landscape and strengthening El Salvador’s position as a key player in the global cryptocurrency economy.
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