El Salvador Pushes Crypto Forward, Grants Bitfinex Derivatives License

Bitfinex Derivatives has taken a big step forward by getting a Digital Asset Service Provider (DASP) license in El Salvador. With this move, the platform can now offer more derivatives trading services in Latin America. With this license, Bitfinex plans to take advantage of El Salvador’s support for crypto to set up shop in the area.

A Regulatory Game Changer?

Bitfinex Derivatives is able to function inside El Salvador’s regulated framework, which was established by the Digital Assets Issuance Law, thanks to the DASP license. This law, which was put into effect in early 2023, was intended to draw in digital asset companies while maintaining legal clarity and transparency.

For Bitfinex, this framework is a game-changer. Paolo Ardoino, Bitfinex’s CTO, described the license as a key milestone that enables the company to roll out innovative derivatives products to a broader audience.

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