Bitfinex Derivatives has secured a Digital Asset Service Providers (DASP) license in El Salvador, marking a significant shift from its previous base in Seychelles. This move underscores El Salvador's ambition to become a global crypto hub, following its Digital Assets Securities Law enacted in early 2023. The new licensing framework allows for tokenization of various assets, streamlining capital raising for businesses. Despite this progress, Bitfinex's attempt to tokenize a Hilton hotel project fell short, raising only $342,000 of the $6.25 million target, leading to investor refunds.