Bitfinex declared that it has become the first official cryptocurrency license holder in El Salvador.
The Bitfinex team announced on Tuesday that its crypto exchange unit became the world’s first international digital asset platform to receive approval to be licenced as a Digital Asset Service Provider under El Salvador’s ground-breaking new Digital Assets Issuance Law.
The license will make it possible to issue and trade novel real-world tokenized assets like stocks and bonds. A fully regulated digital asset exchange called “Bitfinex Securities” has officially secured the license for tokenized assets including stocks and bonds.
According to earlier rumors, El Salvador planned to list bonds for Bitcoin on Bitfinex between June and September. In a statement, Bitfinex’s chief technology officer, Paulo Ardiono, said:
“We are delighted to be the first company to be awarded this licence. It will enable Bitfinex Securities to facilitate the issuance and secondary trading of assets with clearly defined rights and obligations as outlined in the new digital asset regulatory regime.”
In an effort to pave the way for financial freedom, El Salvador became the first country to embrace Bitcoin as legal cash on September 7, 2021. Despite the enormous increase in Bitcoin’s price since January 2023, the nation still faces unrealized losses from its 2,546 purchases.
El Salvador intends to become a hub for digital assests in latin America and has made steady progress toward the goal since adopting BTC. Its progressive approach toward regulating crypto has attracted many individuals and firms to move to the country.
