Bitfinex Securities launches digital asset services in El Salvador

Bitfinex Securities has become the first licensed provider to offer digital assets services in El Salvador.

The securities token platform said it was now accepting customer applications and has established a pipeline of potential tokenized financial asset issuances that it expects will come to market in the first half of this year.

“We are delighted to be able to announce the launch of Bitfinex Securities in El Salvador,” Bitfinex Securities CTO Paolo Ardoino said in a statement. “This is not only an important market for Bitfinex given its adoption of Bitcoin as legal tender and the fostering of a Bitcoin-based economy, but it also gives El Salvador the opportunity to attract global investment flows, as issuers put out competitively priced securities offerings.”

Following the successful launch of U.S. spot bitcoin exchange-traded funds, Bitfinex anticipates high demand for such regulated digital asset investment vehicles. “We are especially positive about the timing given the recent surge of institutional investor interest in Bitcoin-focused financial products,” Bitfinex Securities Head of Operations Jesse Knutson added.

Bitcoin legal tender, Freedom Visa and regulatory framework

El Salvador, which hit the headlines in 2021 by giving Bitcoin legal tender status, also launched an “Adopting El Salvador Freedom Visa” program in collaboration with stablecoin issuer Tether in December. Under the scheme, investors apply for the Freedom Visa by investing $1 million in Bitcoin or USDT.

Earlier this month, the country also approved a digital asset regulatory framework, laying the foundation for fully operational Bitcoin-based financial markets.