Bitfinex Derivatives receives DASP license in El Salvador
Bitfinex Derivatives has secured licensing as a Digital Asset Service Provider in El Salvador, the crypto platform’s Seychelles-based parent company has announced.
The Bitfinex team noted in a blog post update and on X that its derivatives service will, following the announcement, be available via Bitfinex Derivatives El Salvador S.A. de C.V. This newly licensed derivatives platform in El Salvador means users wishing to continue using the company’s derivative services must accept the updated terms of service.
“With this license, we’re proud to relocate Bitfinex Derivatives to El Salvador – a nation leading the charge in building a robust digital economy. This move strengthens our mission to deliver innovative trading solutions, especially to underserved regions in Latin America,” Bitfinex posted on X.
Bitfinex was the first crypto exchange to secure DASP registration in El Salvador in April 2021.
The exchange’s Bitfinex Securities also achieved a historic milestone when it became the first platform to obtain El Salvador’s Digital Assets License. In July 2024, Bitfinex Derivatives partnered with crypto derivatives provider Thalex in a collaboration aimed at expanding its services, including options and perpetual futures.
The landmark developments followed the Latin American country’s pioneering adoption of Bitcoin (BTC) as legal tender in 2021. El Salvador has since become a key destination for crypto projects. Meanwhile, the country’s president Nayib Bukele is among top BTC bulls, with his government purchasing over 6,000 bitcoins by the end of December 2024.
