Bitfinex Securities El Salvador has become the first international cryptocurrency exchange to be licensed as a Digital Asset Service Provider under El Salvador’s new Digital Assets Issuance Law.
The license was granted by El Salvador’s National Digital Asset Commission, a significant milestone for Bitfinex as it expands its global reach in delivering financial freedom and inclusion. This move aligns with Bitfinex’s long-term strategy outlined in the Bitfinex Freedom Manifesto.
With the license granted by El Salvador’s National Digital Asset Commission, Bitfinex Securities can now facilitate the issuance and secondary trading of digital assets in compliance with the country’s new regulatory regime. The law, which was passed by the National Congress of El Salvador earlier this year, is intended to promote financial innovation and growth in the country.
According to the Chief Technology Officer of Bitfinex, the newly acquired license will enable small companies and governments to raise capital within a regulated framework and access a market valued at over USD 1 trillion, with a peak of USD 3 trillion. The license marks a significant achievement for the cryptocurrency exchange, aligning with its long-term goal of promoting financial freedom and inclusion worldwide.
El Salvador’s new Digital Asset Issuance Law was passed in January 2023, aimed at promoting financial innovation and growth in the country. The law has established a framework for issuing Bitcoin-backed bonds, commonly referred to as “Volcano Bonds.”