Bitfinex Derivatives Secures DASP License in El Salvador, Bolstering Latin American Presence
Bitfinex Derivatives, a leading cryptocurrency derivatives platform, has announced that it has obtained a Digital Asset Service Provider (DASP) license in El Salvador. This milestone marks a significant expansion of the platform’s presence in the Latin American region.
Strengthening Foothold in Latin America
The Seychelles-based parent company of Bitfinex Derivatives made this announcement as part of its strategy to deliver advanced trading solutions to users in the region. The platform will offer its derivatives services through a new subsidiary, Bitfinex Derivatives El Salvador S.A. de C.V. Users will be required to accept the new terms of service to continue using the platform.
Enhanced Trading Solutions Through Bitfinex Derivatives
With the DASP license, Bitfinex will provide innovative derivatives trading services, including options, perpetual futures, and other advanced trading instruments. The platform has partnered with providers like Thalex to enhance its offerings and expand accessibility. This licensing ensures compliance with local crypto regulations, providing users with a secure trading environment.
El Salvador’s Role in the Global Crypto Economy
El Salvador has solidified its position as a leader in the cryptocurrency space, pioneering Bitcoin adoption as legal tender in 2021. The country continues to grant licenses to crypto platforms, with Bitfinex being the first to secure DASP registration in 2021. Nayib Bukele’s government has been providing encouraging policies and making sound investments in the crypto industry.
Government’s Commitment to Bitcoin
The government of El Salvador has demonstrated its commitment to Bitcoin, having purchased over 6,000 BTC by the end of December 2024. The country plans to accelerate Bitcoin accumulation, adding to its current reserves valued at approximately $596 million. Despite challenges, the government remains committed to advancing Bitcoin education and capital market development.
Conclusion
Bitfinex Derivatives’ acquisition of a DASP license in El Salvador marks a significant milestone in the platform’s expansion in Latin America. With its commitment to delivering advanced trading solutions and compliance with local regulations, Bitfinex is poised to strengthen its presence in the region. El Salvador’s leadership in the cryptocurrency space and its commitment to Bitcoin adoption make it an attractive destination for crypto platforms and investors alike.
Source: Bitcoinethereumnews.com
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