Bitfinex Expands With New Derivatives License in El Salvador: Details
Highlights
- Bitfinex Derivatives secures DASP license in El Salvador, relocating its platform to expand services in Latin America.
- The license allows Bitfinex to offer innovative derivatives trading solutions under updated terms in El Salvador.
- El Salvador strengthens its crypto leadership, granting licenses as Bitcoin adoption continues under President Nayib Bukele.
The official platform Bitfinex Derivatives has announced that it has received a Digital Asset Service Provider (DASP) license in El Salvador. The Seychelles based parent company made this announcement as the platform continues to expand its presence across the Latin American region.
Bitfinex Gains DASP License in El Salvador, Strengthening Latin America Presence
As reported on X recently, Bitfinex Derivatives has become the latest to obtain a DASP license in El Salvador. With this license, the platform is able to offer its derivatives service through a new subsidiary called Bitfinex Derivatives El Salvador S.A. de C.V. The company statement adds that the users have to agree to the terms in order to continue using the service.
The move to El Salvador aligns with Bitfinex’s strategy to strengthen its foothold in Latin America. The company noted its mission to deliver advanced trading solutions. This further reinforces Bukele’s government position as a key player in the crypto economy.
The trading platform stated,
“To continue to use the Derivative Services on or after this date, you will be required to accept the Bitfinex Derivatives El Salvador S.A. de C.V. terms of service. “
Enhanced Trading Solutions Through Bitfinex Derivatives
With the DASP license, Bitfinex will provide innovative derivatives trading services to its users. These services include options, perpetual futures, and other advanced trading instruments. Bitfinex has partnered with providers like Thalex to enhance its offerings and expand accessibility.
This licensing ensures compliance with local crypto regulations, providing users with a secure trading environment. The updated framework will attract more institutional and retail traders, boosting its presence in the Latin American region.
El Salvador’s Role in the Global Crypto Economy
El Salvador has solidified its role as a leader in the cryptocurrency space. The country pioneered Bitcoin adoption as legal tender in 2021 and continues to grant licenses to crypto platforms. Bitfinex was the first crypto exchange to secure DASP registration in El Salvador in 2021, followed by Bitfinex Securities obtaining a Digital Assets License.
Nayib Bukele’s government has been providing encouraging policies and making sound investments in the crypto industry. By the end of December 2024, the Bukele’s government had bought more than 6,000 BTC, which proves it’s focus on the cryptocurrency.
Moreover, El Salvador plans to accelerate Bitcoin accumulation, adding to its current reserves valued at approximately $596 million. Despite retiring the Chivo wallet and IMF restrictions limiting Bitcoin use in public transactions, the government remains committed to advancing Bitcoin education and capital market development as part of its strategy.
- Glassnode Data Shows Bitcoin May Drop To $105.5K This Week, Here’s Why
- Co-Founder Predicts $1,000 SOL Price as Solana Treasuries Skyrocket to $4B
- REX-Osprey XRP ETF Debuts With Record $37.7M Volume as Analyst Projects Bullish Run
- MetaMask Token to Launch Sooner After mUSD Stablecoin: Consensys CEO Joe Lubin
- Grayscale’s XRP, SOL, ADA Fund To Begin Trading Today
- Cardano Price Stays Above Ichimoku Cloud as Grayscale ADA ETF Approval Nears
- HBAR Price Prediction as SEC Approves Generic ETF Framework – Analyst Targets $1.80
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
