El Salvador Boosts Crypto with Bitfinex Securities Launch

Bitfinex Securities is now a live tokenized securities trading site in El Salvador. This follows after the country’s central government launched plans to work with other state administrations and announced intentions of introducing a new program that allows users to pay taxes via digital money.

The Bitfinex platform allows trading tokenized traditional financial assets like equities and bonds. Its debut in El Salvador builds on the nation’s expanding cryptocurrency infrastructure. Last year, El Salvador introduced a Freedom Visa program enabling investors to gain residency for a $1 million investment in Bitcoin or Tether’s USDT stablecoin. 

Bitfinex Securities sees potential for high demand in regulated investment vehicles tied to digital assets. The launch follows the U.S. approval of several Bitcoin exchange-traded funds (ETFs) in 2022. Bitfinex Head of Operations Jesse Knutson points to rising institutional interest in crypto financial products.

El Salvador’s embrace of Bitcoin and platforms like Bitfinex Securities’ could bolster crypto integration globally. With the nation establishing itself as a digital asset hub, Bitfinex sees opportunities for tokenized securities.

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2024-02-01 00:36