Catenaa, Tuesday, January 14, 2025 – Bitfinex Derivatives has obtained a Digital Asset Service Providers (DASP) license to operate in El Salvador, further cementing the nation’s position as a global leader in cryptocurrency adoption.
The company announced on January 7 that it would relocate its derivatives operations from Seychelles to El Salvador, with services now provided by Bitfinex Derivatives El Salvador S.A. de C.V., a licensed local entity.
El Salvador has emerged as a trailblazer in digital assets, enacting the Digital Assets Securities Law in January 2023. This framework allows businesses to tokenize assets such as equity, funds, and real estate, streamlining capital raising and enabling innovative investments. Bitfinex Securities was an early participant, securing a DASP license in April 2023.
Bitfinex has leveraged El Salvador’s regulatory environment to launch products like a tokenized public offering of U.S. Treasury bills. However, the country’s pioneering efforts haven’t been without setbacks, such as an underperforming $6.25 million tokenized Hilton hotel project.
El Salvador’s aggressive Bitcoin strategy under President Nayib Bukele continues to draw global attention. The nation now holds 6,000.77 BTC, valued at $569.3 million, ranking it sixth among countries with significant Bitcoin reserves. Despite international criticism, Bukele’s administration remains committed to Bitcoin as a cornerstone of economic policy.
The new Bitfinex license underscores El Salvador’s aim to become a hub for digital asset innovation while fostering growth in its cryptocurrency ecosystem.
