Bitfinex Derivatives has officially secured a Digital Asset Service Provider (DASP) license in El Salvador, marking a significant step in its strategy to broaden influence across Latin America.
Bitfinex’s Plan for Latin America
The company, headquartered in Seychelles, will roll out its derivatives services through a new entity called Bitfinex Derivatives El Salvador S.A. de C.V. Users must accept specific conditions to access these services, promoting compliance and user engagement.
New Trading Solutions
With the newly acquired DASP license, Bitfinex intends to introduce a variety of advanced trading options, including perpetual futures and options. Collaborations with firms such as Thalex are aimed at elevating service levels and broadening user access.
El Salvador’s Role in Cryptocurrency
El Salvador is recognized as a leader in the cryptocurrency domain, having made Bitcoin a legal payment form in 2021. The government actively fosters growth in this field by providing licenses to various cryptocurrency platforms.
By acquiring the DASP license, Bitfinex is poised to significantly boost its growth trajectory in the Latin American market, while supporting broader cryptocurrency adoption across the region.
