El Salvador continues to strengthen its position as a crypto-friendly nation, with the latest confirmation being Bitfinex's move to the country.
Bitfinex Moves Operations to El Salvador
In an official statement, Bitfinex Derivatives confirmed its decision to relocate operations from Seychelles to El Salvador. This move is linked to the company's acquisition of a DASP (Digital Assets Service Provider) license in this Central American nation.
El Salvador’s Crypto-Friendly Policy
El Salvador has the potential to become a significant hub for cryptocurrency. In 2023, the country introduced a law supporting the tokenization of assets like funds, debts, equities, and real estate.
Bitfinex’s Asset Tokenization in El Salvador
Demonstrating the potential of the new tokenization law, Bitfinex launched a tokenized public offering of US Treasury bills in November 2024. An earlier attempt to tokenize a Hilton hotel project in July 2024 was less successful due to insufficient funds.
El Salvador's ongoing crypto-friendly policies and innovative initiatives position it as an attractive location for major cryptocurrency players like Bitfinex.
