Bitfinex Securities El Salvador Receives License To Act As A Digital Asset Service Provider

April 12, 2023

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Bitfinex Securities, the Digital Asset Exchange has received a license for a digital asset service provider under El Salvador’s new Digital Assets Issuance Law. This law was passed by El Salvador’s National Congress in January. Following the law Bitfinex Securities El Salvador was granted a license by El Salvador’s National Digital Asset Commission on 11 April. Thus, making Bitfinex Securities El Salvador the world’s first international digital asset platform to receive this license.

This Digital Asset Exchange was granted the license to promote increased financial innovation and growth in the Central American region. The CTO of Bitfinex, Paolo Ardoino stated that the license would allow Bitfinex Securities to provide services relating to secondary trading and issuance of assets with certain defined rights and obligations as outlined by the latest digital asset regulatory regime.

This newly formed entity will provide a regulatory-compliant platform for issuing digital assets such as bonds, equities, and other financial instruments. As a result, it is considered a unique opportunity for businesses and individuals to leverage the benefits of services such as issuing, investing, and trading digital assets in the favorable crypto regulatory environment of El Salvador. Additionally, Bitfinex Securities El Salvador will function independently from the Bitfinex Group‘s platform, Bitfinex Securities AIFC which is managed by Bitfinex Securities Limited.

Bitfinex has always planned to expand its global reach. In 2022, the exchange issued a Security token platform that went live in Kazakhstan. Alongside, El Salvador which is the first country to establish Bitcoin as a legal tender continues to make itself a tech-friendly hub while providing a favorable environment for digital assets projects.

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