Bitfinex Derivatives has announced the acquisition of a Digital Asset Service Provider (DASP) license in El Salvador, reflecting the company's strategy to expand its presence in Latin America.
Bitfinex's Latin American Strategy
The Seychelles-based company Bitfinex plans to offer derivatives services through its new subsidiary, Bitfinex Derivatives El Salvador S.A. de C.V. Users must agree to certain terms to continue utilizing the service.
Enhanced Trading Solutions with Bitfinex Derivatives
With the DASP license, Bitfinex plans to provide innovative derivatives trading services, including options, perpetual futures, and other advanced trading tools. Partnerships with providers like Thalex aim to improve service quality and expand accessibility.
Significance of DASP License for Bitfinex
Bitfinex's acquisition of the DASP license in El Salvador is a significant step towards achieving growth objectives in the Latin American market. This development aims to contribute to the increasing adoption of cryptocurrencies in the region. Bitfinex's operations in El Salvador aim to create a secure trading environment for users by ensuring compliance with local crypto regulations. The updated framework is expected to encourage more institutional and individual participants to choose the platform.
The acquisition of a DASP license by Bitfinex in El Salvador highlights the company's commitment to expanding in Latin America and supports the growth of digital currency adoption in the region.
