Seychelles-based platform Bitfinex Derivatives has obtained a Digital Asset Service Provider (DASP) license in El Salvador, marking a pivotal step in its expansion across Latin America.
New License for Bitfinex Derivatives
The acquisition of the DASP license enables the platform to offer derivatives services through its newly established subsidiary, Bitfinex Derivatives El Salvador S.A. de C.V.
Plans for Expanding Trading Services
As part of its mission to provide advanced trading solutions, Bitfinex aims to offer a range of innovative services, including options and perpetual futures, to attract both retail and institutional traders. To access these services, users must accept the updated terms of service.
Support from the Salvadoran Government
This move aligns with El Salvador's growing position as a global leader in cryptocurrency. The country made history by adopting Bitcoin as legal tender in 2021 and continues to foster a supportive environment for crypto businesses. Bitfinex’s DASP license adds to the momentum, highlighting the government's commitment to creating a secure, crypto-friendly ecosystem.
With its new license, Bitfinex is set to enhance its trading solutions, cementing its presence in the Latin American crypto market and contributing to El Salvador's reputation as a key player in the global crypto economy.
