Bitget declared that the Central Reserve Bank of El Salvador had granted them a license to operate as a Bitcoin service provider.
With the license, Bitget is able to provide custody services, Bitcoin payments, and Bitcoin-to-fiat trades throughout the nation.
Bitget can now provide Bitcoin-related services like purchasing, selling, storing, and transferring BTC thanks to the BSP license.
This accomplishment is part of Bitget’s larger plan to improve its regulatory position and grow internationally.
Additionally, the business is working to obtain a license from El Salvador’s National Commission on Digital Assets as a Digital Assets Service Provider.
Bitget could provide services for cryptocurrencies other than Bitcoin in El Salvador, With this extra license.
Since recognizing Bitcoin as a legal tender in 2021, El Salvador has become a catalyst for using cryptocurrencies worldwide.
The nation’s pro-Bitcoin laws give businesses like Bitget a way to enter the Latin American market, where cryptocurrencies are being utilized for financial inclusion, remittances, and as a hedge against unstable fiat currencies.
