Bitget has been granted a Bitcoin Service Provider (BSP) license by the Central Reserve Bank of El Salvador, allowing it to offer Bitcoin-related services in the country. This license allows Bitget to offer fiat currency exchanges, payment services, and secure storage solutions.

In addition, Bitget is awaiting approval from the National Commission for Digital Assets in El Salvador for a Digital Asset Service Provider (DASP) license. This license will allow it to offer similar trading services for digital assets other than Bitcoin.

Latin America holds great potential for crypto innovation, and El Salvador is taking a leading role by accepting Bitcoin as legal tender. Bitget’s move is seen as a gateway to unlocking El Salvador’s crypto potential.

Bitget is licensed as a virtual asset service provider in Poland and Lithuania, and recently established a subsidiary in Vietnam. The company claims to have over 45 million users worldwide. According to CoinMarketCap, Bitget’s trading volume in the last 24 hours exceeded $6 billion.

El Salvador is easing Bitcoin laws as it negotiates a $1.3 billion loan with the IMF. This could mean making Bitcoin adoption voluntary rather than mandatory for businesses.

El Salvador’s digital asset strategy also aims to expand its international relations. The country has signed a mutual cooperation and training agreement on digital assets with Argentina and is in talks with more than 25 countries for similar partnerships.

What do you think of these developments? Share your thoughts in the comments.