Bitfinex Derivatives, the derivatives arm of crypto exchange Bitfinex, has obtained a Digital Asset Service Providers (DASP) license to operate in El Salvador. The approval of the DASP license has led to the firm's decision to move from Seychelles to El Salvador. Paolo Ardoino, the chief technology officer of Bitfinex Derivatives, emphasized the significance of this move, highlighting El Salvador's emergence as a global financial center. El Salvador has been actively working on establishing new crypto regulations to position itself as a crypto hub. Bitfinex Securities, a subsidiary of Bitfinex, recently acquired a local DASP license in compliance with El Salvador's Digital Assets Securities Law. The licensing framework in El Salvador enables companies to tokenize various assets, facilitating capital raising and investment opportunities. Despite facing challenges, such as a failed tokenization project for a Hilton hotel, Bitfinex Securities remains committed to leveraging El Salvador's regulatory environment for innovative financial offerings. Read more AI-generated news on: https://app.chaingpt.org/news