El Salvador has granted its first digital asset license to Bitfinex, making it the first international digital asset platform to obtain approval under the country’s Digital Assets Issuance Law.
The licence 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.
The legislation was passed by the Central American country’s National Congress last January to foster increased investments in the crypto sector, building on the nation’s groundbreaking decision to adopt bitcoin (BTC) as legal tender in 2021.
El Salvador’s government has established the National Bitcoin Office (ONBTC) of El Salvador, a “specialized administrative unit” responsible for coordinating and consulting all BTC-related projects in the nation.
Bitfinex Securities, a platform headquartered in the British Virgin Islands, praised the NDAC’s decision, declaring that it represents a boost to the exchange’s international expansion efforts and highlights El Salvador’s rapid transformation to become a regional and global hub for high-tech financial innovation.