According to CoinTelegraph, Bitfinex Derivatives has announced its relocation to El Salvador after securing a Digital Asset Service Providers (DASP) license. This move is part of the company's strategy to establish El Salvador as a financial services center in Latin America. The decision follows El Salvador's recent efforts to develop a robust crypto framework, including the passage of the Digital Assets Securities Law in January 2023. Bitfinex Securities had previously secured a DASP license in April 2023. The licensing regime in El Salvador allows for the tokenization of various assets, facilitating capital raising for companies. In November 2024, Bitfinex debuted a tokenized public offering of US Treasury bills under this framework. However, a previous tokenization project for a Hilton hotel in July 2024 fell short of its funding goal, raising only $342,000 of the $6.25 million target.
Bitfinex Derivatives Relocates to El Salvador with DASP License
KuCoin NewsShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.