Key Notes
- Bitfinex Derivatives secures a DASP license in El Salvador, aligning with its innovative crypto-friendly regulatory framework.
- El Salvador’s crypto laws, backed by President Bukele and 6,000+ bitcoins, solidify its global leadership.
- Bitfinex expands offerings with Thalex and Volmex partnerships, driving options and volatility-based crypto trading.
Bitfinex Derivatives has obtained a Digital Asset Service Provider (DASP) license in El Salvador, marking another stride in the country’s commitment to fostering a thriving digital economy. The achievement aligns with El Salvador’s forward-thinking approach to cryptocurrency, highlighted by its historic adoption of Bitcoin as legal tender in 2021.
With the licensing, Bitfinex Derivatives will operate under Bitfinex Derivatives El Salvador S.A. de C.V., allowing the platform to offer its innovative trading services within the nation’s progressive regulatory environment. Users who wish to continue accessing the derivatives services must now accept updated terms of service.
“With this licence, we’re proud to relocate Bitfinex Derivatives to El Salvador – a nation leading the charge in building a robust digital economy. This move strengthens our mission to deliver innovative trading solutions, especially to underserved regions in Latin America,” the company announce on X.
Bitfinex Secures Dual Crypto Recognition in El Salvador
Bitfinex has a history of breaking new ground in El Salvador. In April 2021, it became the first crypto exchange to secure DASP registration in the country. Later, its Bitfinex Securities platform achieved another milestone by obtaining El Salvador’s Digital Assets License. This dual recognition highlights the exchange’s central role in the nation’s crypto advancements.
El Salvador’s crypto-friendly stance took root with the passage of the Digital Asset Issuance Law in 2023, paving the way for companies to innovate in the space. This legal framework supports issuing and trading digital assets such as bonds, equities, and financial instruments, solidifying El Salvador’s position as a haven for crypto projects.
President Nayib Bukele, a prominent supporter of Bitcoin, has also played a significant role in promoting the sector. By December 2024, the government had reportedly acquired over 6,000 bitcoins, further cementing the country’s reputation as a global cryptocurrency leader.
Strategic Partnerships and Expansion
In order to broaden its offerings, Bitfinex Derivatives entered a partnership with Thalex in July 2024, with the final integration went live in November 2024. This collaboration introduced options and perpetual futures trading, enhancing the platform’s appeal to traders worldwide.
Earlier in the same year, Bitfinex launched perpetual futures tied to bitcoin and ether volatility indices, enabling users to trade on anticipated price swings in leading cryptocurrencies. These products, developed in partnership with Volmex, underscore the platform’s commitment to innovation and catering to market needs.
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With over 3 years of crypto writing experience, Bena strives to make crypto, blockchain, Web3, and fintech accessible to all. Beyond cryptocurrencies, Bena also enjoys reading books in her spare time.
