ByCoinGape
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Tether CTO Paolo Ardoino-led Bitfinex exchange has added another service to its Latin america portfolio. It has secured a Digital Asset Service Provider (DASP) licence in El Salvador, allowing it to add its core spot trading business to the company’s existing regulated operations in the country.
This gives the exchange a broader foothold in one of Latin America’s most crypto-focused markets.
The approval means Bitfinex now has licensed operations spanning spot digital asset trading, derivatives and tokenised securities in El Salvador. Here’s how:
A Digital Asset Service Provider (DASP) license is the regulatory authorization issued under El Salvador’s digital asset framework by the Comisión Nacional de Activos Digitales (CNAD).
The license is required for businesses to provide regulated digital asset services in the country, including exchanges and other digital asset businesses.
For Bitfinex, the latest license effectively places its core exchange operations under El Salvador’s digital asset regulatory framework. Together with its existing licences, the company can now maintain a regulated presence across three major segments. This includes spot crypto markets through Bitfinex, derivatives through Bitfinex Derivatives and tokenized securities through Bitfinex Securities.
Its affiliates, Bitfinex Securities and Bitfinex Derivatives, already hold DASP licences in the country. According to the official announcement, Bitfinex Securities business operates under licences in El Salvador. It became the first international digital asset platform to receive approval under El Salvador’s Digital Assets Issuance Law in April 2023. On the other hand, Bitfinex Derivatives secured its own licence in January 2025.
The latest El Salvador license therefore gives Bitfinex something more strategically valuable than another regulatory registration. It brings its spot, derivatives and tokenized securities businesses under a connected regulated presence in the same jurisdiction.
This comes as increasing regulatory scrutiny and market volatility are forcing exchanges to shut down. Recently, the Arthur Hayes-led BitMEX exchange announced that it was shutting down.
Latin America has emerged as one of the world’s fastest-growing crypto regions. It recorded nearly $1.5 trillion in on-chain transaction volume recorded between July 2022 and June 2025.
According to a Chainalysis report,, the region has seen crypto adoption grow 63% year over year, making it the second-fastest-growing market globally after Asia-Pacific.
Brazil leads the region with $318.8 billion in crypto transaction volume, followed by Argentina ($93.9 billion) and Mexico ($71.2 billion).
However, despite being the first country to adopt Bitcoin as legal tender in 2021, El Salvador remains a relatively small crypto market. It recorded approximately $3.5 billion in crypto transaction volume during the latest reporting period.
The country’s crypto remittances are rebounding, with $29.25 million sent through digital assets between January and May 2026. That’s a 41.7% increase year over year but they still account for less than 1% of the country’s total $4.21 billion in remittance inflows.
Thus, Bitfinex’s latest move marks a strategic expansion in the country and Latin American region.
Sneha Agrawal More Stories
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