Bitfinex Securities is the first global firm to obtain El Salvador's digital asset service provider license.
Bitfinex Securities El Salvador, a newly established digital asset exchange, has received a digital asset service provider (DASP) license from El Salvador authorities.
Under the recently implemented Digital Assets Issuance Law in El Salvador, Bitfinex Securities became the first global digital asset platform to secure such approval in the country.
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The National Digital Asset Commission of El Salvador awarded the license on April 11th, demonstrating the nation's commitment to cultivating a conducive environment for digital asset development.
Bitfinex's Chief Technology Officer, Paolo Ardoino, emphasized that the license allows Bitfinex Securities to facilitate the issuance and secondary trading of assets while adhering to the country's digital asset regulations. Ardoino also added:
It means that a whole range of entities, from small companies to governments, can raise capital in a regulated environment, and tap into a class of investors that are extremely comfortable with crypto assets and tokenized securities, which represents a market of over $1 trillion with a peak of $3 trillion.
Bitfinex Securities El Salvador will allow companies across the world to issue various digital assets, including bonds, equities, and other financial instruments. This opportunity enables businesses and individuals to invest, issue, and trade digital assets within El Salvador's progressive regulatory framework.
It is worth noting that Bitfinex Securities El Salvador will operate separately from the Bitfinex Group's current Bitfinex Securities AIFC platform, allowing it to establish its presence in the digital asset market.
In the most recent El Salvador-related news, in January, the country's Legislative Assembly approved a law laying the legal foundation for the issuance of "volcano-bonds" - bonds backed by Bitcoin (BTC).