Bitfinex Securities has become the first licensed digital asset service provider to operate in El Salvador.
Following the successful launch of the US spot Bitcoin ETF, Bitfinex expects demand for regulated digital asset investment vehicles to be high.
Bitfinex Securities has become the first licensed provider of digital asset services in El Salvador.
The security token platform said it is currently accepting client applications and has established a pipeline of potential tokenized financial asset issuances that are expected to be available in the first half of this year.
“We are excited to announce the launch of Bitfinex Securities in El Salvador,” said Paolo Ardoino, CTO of Bitfinex Securities, in a statement. “Not only is this an important market for Bitfinex given its adoption of bitcoin as legal tender and fostering a bitcoin-based economy, it also provides an opportunity for El Salvador to attract global investment flows as issuers launch competitively priced securities offerings.”
Following the successful launch of the US Spot Bitcoin ETF, Bitfinex expects demand for such regulated digital asset investment vehicles to be high. Jesse Knutson, Head of Securities Operations at Bitfinex, added: “We are particularly optimistic about the timing given the recent surge in institutional investor interest in Bitcoin-centric financial products.”
Bitcoin Fiat Currency, Freedom Visa and Regulatory Framework
El Salvador, which made headlines in 2021 for granting Bitcoin legal tender status, also launched the “Adopt a Salvador Freedom Visa” program in December in partnership with stablecoin issuer Tether. Under the program, investors apply for a freedom visa by investing $12 million in Bitcoin or USDT.
Earlier this month, the country also approved a regulatory framework for digital assets, laying the foundation for a fully operational Bitcoin-based financial market.