Bitfinex Derivatives, a Seychelles-based platform, has secured a Digital Asset Service Provider (DASP) license in El Salvador, marking a significant step in its expansion across Latin America.
This new development allows the platform to offer derivatives services through its newly established subsidiary, Bitfinex Derivatives El Salvador S.A. de C.V.
As part of its mission to provide advanced trading solutions, Bitfinex is set to offer a range of innovative services, including options and perpetual futures, aiming to attract both retail and institutional traders. To access these services, users must accept the updated terms of service.
The move aligns with El Salvador’s growing position as a global leader in cryptocurrency. The country made history by adopting Bitcoin as legal tender in 2021 and continues to foster a supportive environment for crypto businesses.
Bitfinex’s DASP license adds to the momentum, highlighting the government’s commitment to creating a secure, crypto-friendly ecosystem. El Salvador’s President Nayib Bukele has been instrumental in promoting Bitcoin adoption, securing over 6,000 BTC by December 2024.
Despite challenges like the IMF restrictions on public Bitcoin transactions and the retirement of the Chivo wallet, the government remains focused on further Bitcoin accumulation and expanding crypto education.
With its new license, Bitfinex is set to provide enhanced trading solutions, cementing its presence in the Latin American crypto market and contributing to El Salvador’s reputation as a key player in the global crypto economy.
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