Bitfinex Derivatives Secures Virtual Asset License in El Salvador

Bitfinex Derivatives has successfully relocated its operations to El Salvador.

According to Cointelegraph, a cryptocurrency-focused media outlet, the derivatives division of the cryptocurrency exchange Bitfinex has secured a Digital Asset Service Provider (DASP) license to operate virtual asset businesses in El Salvador.

As a result, Bitfinex Derivatives will transfer its operations from Seychelles to El Salvador.

Paolo Ardoino, the Chief Technology Officer (CTO) of Bitfinex and Chief Executive Officer (CEO) of Tether (USDT), stated, "This move demonstrates that El Salvador is emerging as a global financial hub."