Digital asset exchange Bitfinex Securities El Salvador has been licensed as a digital asset service provider under El Salvador’s new digital asset issuance law, passed by the El Salvador National Assembly in January to promote financial innovation and growth in the Central American country.
According to the announcement, the license was issued by El Salvador’s National Digital Assets Commission on April 11, making Bitfinex Securities El Salvador “the world’s first international digital asset platform approved as a digital asset service provider” in El Salvador. El Salvador. Bitfinex CTO Paolo Ardoino noted that the license will allow “Bitfinex securities to facilitate the issuance and secondary trading of assets with clearly defined rights and obligations outlined in the new digital asset regulatory regime.”
The newly formed entity, Bitfinex Securities El Salvador, will provide global companies with a regulatory-compliant platform to issue digital assets such as stocks, bonds and other financial instruments, the announcement said. This will provide a unique opportunity for businesses and individuals to take advantage of issuing, investing and trading digital assets in a favorable regulatory environment in El Salvador. Bitfinex Securities El Salvador will be independent from the Bitfinex Group's current platform, Bitfinex Securities AIFC, and will be managed by Bitfinex Securities Limited.
Bitfinex continues to expand its global reach. In 2022, Bitfinex's security token platform goes live in Kazakhstan. Announced in September 2021, Bitfinex’s Security Token Platform (STO) is currently regulated by the Astana International Financial Center (AIFC) in Kazakhstan.
El Salvador, the first country to establish Bitcoin. As a fiat currency, continue to strive to be a tech-friendly hub. On April 1, Cointelegraph reported that the country has decided to abolish all technological innovation taxes. Salvadoran President Nayib Bukele believes that reducing tax requirements will speed up technological development.
