Bitget Secures Bitcoin Service Provider License in El Salvador
BitjetA prominent global cryptocurrency exchange has received a Bitcoin Service Provider (BSP) license from El Salvador, which will enable the platform to offer a range of Bitcoin services to its clients. But that’s not all, Bitget is also working on obtaining a digital asset service provider license to expand beyond Bitcoin and tap into the growing digital asset market in Latin America.
Bitget receives (BSP) license
The Central Reserve Bank of El Salvador has officially granted Bitget a Bitcoin Service Provider (BSP) license, allowing the exchange to offer a wide range of Bitcoin services in the country. This includes offering Bitcoin to fiat currency transactions, Bitcoin payments and secure asset custody.
This new licensing milestone is part of Bitget’s strategy to expand its global reach and provide more services to customers in El Salvador and the broader Latin American market.
Additionally, Bitget is applying for a Digital Asset Service Provider (DASP) license from El Salvador’s National Digital Asset Commission. This will allow Bitget to expand its product offerings beyond just Bitcoin, bringing more digital assets into the mainstream.
Why El Salvador?
El Salvador has become a beacon for cryptocurrency adoption, Bitcoin fiat currency 2021. Bitget recognizes the country’s potential as a hub for cryptocurrency innovation and is eager to capitalize on this opportunity.
Lin Min, Chief Commercial Officer of Bitget, said that the platform Consider El Salvador a strategic location Your gateway to unlocking the true potential of cryptocurrencies. As interest in digital assets grows in Latin America, El Salvador emerges as a leader in financial inclusion and a driver of real-world cryptocurrency use cases.
In addition, Bitget intends to establish a dedicated team in El Salvador to better serve the region and strengthen its local presence.
Bitget eyes global expansion
Bitget’s expansion into El Salvador is part of a broader global expansion strategy. However, the platform has also made significant progress in Europe, including obtaining a VASP license in Poland and aligning with Archax in the UK to comply with local regulations.
These initiatives signify Bitget’s continued commitment to providing secure, compliant cryptographic services globally.
