- Bitfinex Derivatives has received a DASP license in El Salvador
- This is another cooperation of Bitfinex and El Salvador
- The crypto center of the world is shifting toward America more
One of the top crypto platforms Bitfinex, particularly its division Bitfinex Derivatives, shared the big news and announced that it has received a Digital Asset Service Providers (DASP) license to operate in El Salvador.
This move from Seychelles to Central America contributes to the shift of the world crypto center even further and strengthens El Salvador as a key crypto player.
The History of Bitfinex and El Salvador Integration
El Salvador is actively welcoming initiatives that allow it to become more prominent in the crypto space, and Bitfinex is becoming a major contributor to this.
Back in 2023, after passing the Digital Assets Securities Law, Bitfinex secured a license already in April 2023, which was a great contribution to El Salvador’s crypto nation. Also important was the move when the firm debuted with a tokenized public offering of US Treasury bills under El Salvador’s legal framework.
Of course, the real story is never perfect, and Bitfinex with El Salvador had some unfortunate moments as well. For example, when Bitfinex Securities participated in the tokenization of the Hilton hotel but was forced to return the money to depositors in July 2024.
However, these consistent initiatives seem to be a long-term strategy, where the inevitable failures along the way are accepted as temporary, and now we see another step in this direction.
Now, a division of Bitfinex, namely Bitfinex Derivatives, has announced that it has received Digital Asset Service Providers (DASP) license to operate in El Salvador, relocating from Seychelles.
Bitfinex Derivatives chief technology officer Paolo Ardoino said:
“This critical transition represents a defining moment for Bitfinex Derivatives and highlights El Salvador’s rise as a global financial hub.”
Conclusion
El Salvador continues its active pro-crypto strategy, with consistent Bitcoin mining and accumulation, and this is likely to attract partners as they may feel confident in the long-term planning seeing this.
If the role of cryptocurrencies continues to grow, it could make El Salvador their country with a record troubled economy into one of the world’s central ones. However, there are a lot of things influencing this, and it’s too early to say with certainty. Be aware and stay tuned.
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