Bank

Bitcoin

Reserve

<p>Bitget, a prominent global cryptocurrency exchange, has received a Bitcoin Service Provider (BSP) license in El Salvador, positioning the platform to offer a range of Bitcoin services to its customers. But that's not all—Bitget is also aiming for a Digital Asset Service Provider license to expand beyond Bitcoin and tap into Latin America’s growing digital asset market.</p>   
<h2 class="wp-block-heading" id="h-el-salvador-grants-key-license-for-bitcoin-services"><strong>El Salvador Grants Key License for Bitcoin Services</strong></h2>   
<p>The Central Reserve Bank of El Salvador has officially granted Bitget the BSP license. This allows the platform to provide essential services such as Bitcoin-to-fiat exchanges, BTC payment processing, and secure asset storage.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/WuBlockchain/status/1868609441035342281 
 </div>
</figure>   
<p>This milestone is part of Bitget’s strategy to grow its global presence, starting with a stronger foothold in El Salvador’s thriving crypto ecosystem.</p>   
<p><strong>Next Step: Expanding to Digital Assets</strong></p>   
<p>Bitget is also applying for a DASP license from El Salvador’s National Commission of Digital Assets. If approved, this will allow the exchange to expand its offerings beyond Bitcoin, enabling users to access and trade a wider range of digital assets.</p>   
<h2 class="wp-block-heading" id="h-why-el-salvador-nbsp">Why El Salvador?&nbsp;</h2>   
<p>El Salvador has emerged as a beacon for cryptocurrency adoption, having made <a href="https://coinpedia.org/news/these-nations-are-eyeing-to-make-bitcoin-as-their-legal-tender-following-el-salvador/" target="_blank" rel="noreferrer noopener">Bitcoin legal tender</a> in 2021. Bitget recognizes the country’s potential as a hub for crypto innovation and is eager to tap into this opportunity.&nbsp;</p>   
<p>According to Min Lin, Bitget’s Chief Business Officer, the platform <a href="https://www.bitget.com/blog/articles/bitget-bsp-license-el-salvador" target="_blank" rel="noreferrer noopener nofollow">sees El Salvador as a strategic</a> gateway to unlock the true potential of cryptocurrency. With Latin America’s growing interest in digital assets, El Salvador stands out as a leader in financial inclusion and a driving force for real-world crypto use cases.</p>   
<p>Furthermore, Bitget intends to establish a dedicated team in El Salvador to better serve the region and strengthen its local presence.</p>   [post_titles_links postid="393683"]   
<h2 class="wp-block-heading" id="h-bitget-s-eying-global-expansion">Bitget’s Eying Global Expansion</h2>   
<p>Bitget’s expansion in El Salvador is part of its larger global strategy. The exchange has also made significant progress in Europe, securing a Virtual Asset Service Provider (VASP) license in Poland and collaborating with UK-based Archax to meet local regulatory standards.</p>   
<p>These efforts reflect Bitget’s ongoing commitment to offering secure and compliant crypto services across the world, reinforcing its position as a trusted leader in the industry.</p>   [article_inside_subscriber_shortcode title="Never Miss a Beat in the Crypto World!" description="Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more." category_name="News" category_id="6"]

Bitget Secures El Salvador Bitcoin License, Eyes Latin America Crypto Expansion

Table of Contents

CoinPedia News

Other articles published on Dec 16, 2024

BTC price 'base case' now $140K: 5 things to know in Bitcoin this week

Kite AI Partners with GAIB to Create AI Marketplace for Open Data and GPU Power (16 Dec)

Solana Breaks Bull Flag Pattern:Analyst Predicts $320–$340 Rally

Binance May Be Sued Over This Altcoin! They Sent A Cease and Desist Letter! Here's Why!

Weekly Article Recap: 12/09-12/13

AI Program Developed To Tackle Hate Speech Menace in India

Join our free newsletter for daily crypto updates!