Bitfinex Derivatives Secures DASP License in El Salvador

Bitfinex Derivatives, a leading cryptocurrency platform, has obtained a license as a Digital Asset Service Provider (DASP) in El Salvador. This move marks a significant milestone for the company, enabling the provision of its derivatives services through Bitfinex Derivatives El Salvador S.A. de C.V.

According to an update from the Bitfinex team, the newly licensed derivatives platform in El Salvador requires users to accept the updated terms of service to continue using the company’s derivative services.

“With this license, we’re proud to relocate Bitfinex Derivatives to El Salvador – a nation leading the charge in building a robust digital economy. This move strengthens our mission to deliver innovative trading solutions, especially to underserved regions in Latin America,”

Key Developments and Milestones

Bitfinex was the first cryptocurrency exchange to secure DASP registration in El Salvador in April 2021. The exchange’s Bitfinex Securities also achieved a historic milestone by becoming the first platform to obtain El Salvador’s Digital Assets License.

In July 2024, Bitfinex Derivatives partnered with crypto derivatives provider Thalex in a collaboration aimed at expanding its services, including options and perpetual futures. These developments follow El Salvador’s pioneering adoption of Bitcoin as legal tender in 2021, making the country a key destination for crypto projects.

El Salvador’s Crypto Adoption and President Nayib Bukele’s Stance

El Salvador’s president, Nayib Bukele, is among the top Bitcoin bulls, with his government purchasing over 6,000 Bitcoins by the end of December 2024. This move demonstrates the country’s commitment to embracing cryptocurrencies and creating a favorable environment for crypto projects.

For the latest news and updates on cryptocurrencies, Digital Asset Service Providers, and Bitcoin adoption, visit Global Crypto News.

Some key points to consider when exploring cryptocurrency platforms and services:

  • Research the platform’s licensing and regulatory compliance.
  • Understand the terms of service and any updates.
  • Stay informed about the latest developments in the cryptocurrency market.
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