Bitget, a global cryptocurrency exchange, has secured a Bitcoin Service Provider (BSP) license in El Salvador, positioning itself to offer various Bitcoin-related services and expand its presence in the emerging Latin American market.
BSP License for Bitget
The Central Reserve Bank of El Salvador has officially granted Bitget a BSP license, enabling it to offer Bitcoin-to-fiat exchanges, BTC payments, and secure asset custody.
Why El Salvador?
El Salvador has emerged as a pioneer in cryptocurrency adoption, having made Bitcoin legal tender in 2021. Bitget sees the country's potential as a hub for crypto innovation and seeks to leverage this opportunity to expand its services. The company plans to establish a dedicated team in El Salvador to strengthen its presence.
Bitget’s Global Expansion Plan
Bitget's move into El Salvador is part of a broader global expansion strategy. The platform has previously secured a VASP license in Poland and aligned with the UK's Archax to ensure compliance with local regulations. These initiatives demonstrate Bitget's commitment to providing secure and compliant crypto services worldwide.
Securing the BSP license in El Salvador opens new opportunities for Bitget in Latin America, potentially contributing to the growth of the cryptocurrency market in the region.
