El Salvador has granted its first digital asset license to cryptocurrency exchange Bitfinex.
Known for its breakthroughs in crypto money, El Salvador granted its first digital asset license to Bitfinex. It has the distinction of being the first digital asset issued by this country.
Bitfinex Acquires Digital Asset License From El Salvador
El Salvador has granted Bitfinex its first digital asset license under a new regulatory framework under which potential products such as tokenized stocks and yielding assets can be released. The company announced on Tuesday that it has granted Bitfinex the country’s first license for digital asset service providers.
New license in January Salvadoran Legislative AssemblyIt regulates digital securities under a law passed by the U.S. and allows the issuance of Bitcoin-backed bonds, also known as “Volcano Bonds”, in the country.
Bitfinex‘s Chief Technology Officer Paulo Ardoinosaid the following on the subject:
“We are delighted to be the first company to receive this license. Bitfinex Securities will facilitate the issuance and secondary trading of assets with the rights and obligations set out in the new digital asset regulation regime.”
Bitfinex SecuritiesHead of Operations Jesse Knutson stated that the new regulation will allow the launch of products such as tokenized stocks and yielding assets.
