Bitfinex Derivatives, a company based in the Seychelles, has obtained a Digital Asset Service Provider (DASP) license in El Salvador, which represents an important milestone in their growth strategy within Latin America. In simpler terms, this means they’ve been given official permission to operate as a digital asset service provider in El Salvador, and it’s part of their plan to expand their services across Latin America.
With this latest advancement, the platform can now extend derivative services via its freshly incorporated affiliate, Bitfinex Derivatives El Salvador S.A. de C.V.
In keeping with its goal of offering sophisticated trading opportunities, Bitfinex plans to introduce various cutting-edge features such as options and perpetual futures contracts, intended to appeal to both individual and professional traders. In order to use these new services, it’s necessary for users to agree to the updated terms of service.
The action echoes El Salvador’s expanding role as a pioneer in the world of cryptocurrencies. Last year, the country broke new ground by recognizing Bitcoin as a legitimate form of currency, and it has since been nurturing a welcoming atmosphere for crypto-related enterprises.
Bitfinex’s acquisition of the DASP license contributes to the ongoing movement, underscoring the government’s dedication to fostering a safe and crypto-welcoming environment. President Nayib Bukele of El Salvador has been a key player in advocating for Bitcoin acceptance, amassing more than 6,000 BTC by December 2024.
(This version maintains the original meaning while using simpler and more natural language.)
In spite of hurdles such as the International Monetary Fund’s limitations on public Bitcoin transactions and the discontinuation of the Chivo wallet, the government continues to prioritize increasing its Bitcoin holdings and broadening cryptocurrency education.
Bitfinex, with their latest licensing, is poised to offer improved cryptocurrency trading options, solidifying their role within the crypto market of Latin America and aiding El Salvador’s status as a significant participant in the international digital currency economy.
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2025-01-08 09:57