El Salvador is quickly becoming a global leader in the world of cryptocurrency. As the first country to make Bitcoin legal tender, it has already made history. But that’s just the beginning.
In 2023, the country introduced the groundbreaking Digital Assets Securities Law, a game-changer that could solidify its position as the world’s crypto hub. Recently, a major development has put El Salvador even further into the spotlight: Bitfinex, one of the top crypto exchanges, has moved its derivatives arm to the capital, San Salvador, after securing a Digital Asset Service Providers (DASP) license.
Let’s dive in and explore this deeper.
In an official statement released to the media, Bitfinex Derivatives has acknowledged the rumours of its relocation from Seychelles to El Salvador. It has also confirmed the report that its DASP licence request has been approved by the Central American country.
El Salvador has the potential to become a major cryptocurrency hub. Not only does the country hold 6,002 BTC, worth around $574 million, but it is also eager to develop pro-crypto policies. The introduction of the Digital Assets Securities Law in 2023 is a prime example.
The law allows the tokenization of assets like funds, equity, and even real estate—opening new possibilities for crypto projects.
Bitfinex Securities was quick to recognize the opportunities provided by El Salvador’s new regulations. Just months after the law’s introduction, Bitfinex earned a local DASP license, becoming one of the first crypto firms to capitalize on the country’s forward-thinking approach to digital assets.
One of Bitfinex’s most notable initiatives was its tokenized public offering of US Treasury bills in November 2024, made possible by El Salvador’s new tokenisation laws.
However, not all of Bitfinex’s tokenisation efforts have been successful. In July 2024, the exchange attempted to tokenize a Hilton hotel project, but the $342,000 raised fell short of the minimum $500,000 needed for the project to move forward.
El Salvador’s crypto-friendly regulations are attracting global players like Bitfinex, signaling its potential to become a major crypto hub.
This law, introduced in 2023, supports the tokenisation of assets like funds, equity, and real estate, encouraging crypto growth.
Bitfinex launched tokenised public offerings, including US Treasury bills, demonstrating El Salvador’s potential as a crypto hub.
Pi Network price has surged over 4% in the past 24 hours following the launch…
Charles Schwab’s new CEO, Rick Wurster, announced that the company is gaining significant momentum in…
The cryptocurrency market experienced a whirlwind of developments this week. From Bitcoin price volatility and…
Crypto investor Anthony Pompliano recently criticized President Trump's recent threat to fire Fed Chair Jerome…
XRP is currently trading near $2 after bouncing back from $1.61, with many traders viewing…
A popular crypto analyst from the Good Morning Crypto podcast has made a strong prediction…
