Leading cryptocurrency exchange Bitget has officially secured a Bitcoin Service Provider (BSP) license from El Salvador’s Central Reserve Bank, allowing for Bitcoin-to-fiat exchanges, payment processing, and secure Bitcoin custody services.
Obtaining the BSP License
Bitget has successfully acquired the BSP license from El Salvador's Central Reserve Bank. This authorization allows the exchange to offer Bitcoin-to-fiat exchanges, payment processing, and secure custody solutions in the country.
Significance of the BSP License
Acquiring the BSP license is a crucial part of Bitget's strategic efforts to strengthen its regulatory environment and broaden its global footprint. With this license, Bitget is authorized to legally engage in activities such as buying, selling, storing, and transferring Bitcoin.
Plans for the DASP License
The exchange is actively working to secure the Digital Assets Service Provider (DASP) license from El Salvador’s National Commission of Digital Assets. This would enable Bitget to expand its service offerings beyond Bitcoin to other digital assets.
Securing the BSP license from El Salvador’s Central Reserve Bank enables Bitget to significantly expand its service offerings in the region and further its global expansion.
