Bitfinex Relocates to El Salvador, Strengthens Digital Asset Presence
The post Bitfinex Relocates to El Salvador, Strengthens Digital Asset Presence appeared on BitcoinEthereumNews.com.
Bitfinex Derivatives relocates to El Salvador, enhancing digital asset presence and supporting the nation’s growing digital economy and crypto adoption. Bitfinex Derivatives, the derivatives division of the cryptocurrency exchange Bitfinex, has made a strategic move to El Salvador. Recently the company announced it received Digital Asset Service Provider (DASP) license in El Salvador. This license represents a new significant milestone in the company’s global expansion efforts. The news was shared by Bitfinex on its official X account. The DASP license is an important symbolic step towards making El Salvador the main financial hub for digital assets in Latin America. The country has reason to celebrate, as Bitfinex Derivatives, now licensed to operate in the country, plans on relocating its operations there. But the move mattered, said Paolo Ardoino, CTO of Bitfinex Derivatives. It was a watershed moment, he said, that also symbolized El Salvador rise as a global financial centre. It is not surprising that Bitfinex would move to El Salvador as it is not the only major crypto exchange that is operating in the country. In fact, the country has already made the news for its push to spread cryptocurrency. In 2021, President Nayib Bukele’s government diversified further, starting to purchase Bitcoin in the digital asset space. This will make El Salvador progress on its way to soon achieving a reserve of 6,000 bitcoins, a major milestone. El Salvador Solidifies Position as Crypto Hub with Bitfinex Partnership The license of DASP will enable Bitfinex Derivatives to bring innovative trading solutions to the underserved regions in Latin America. It is part of the company’s broader mission to democratize access to financial services and products. Bitfinex’s presence in El Salvador is an effort to support its moves towards building a strong digital economy. Bitfinex and El Salvador partnership comes as the…
Filed under: News - @ January 10, 2025 3:15 am