9 months ago
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Bitfinex Securities debuts as El Salvador’s first licensed digital asset service provider, aligning with the country’s pioneering Bitcoin-focused financial initiatives.
The securities token platform, gearing up for a dynamic phase, is now open to customer applications. This development is accompanied by the anticipation of numerous tokenized financial asset issuances, expected to hit the market in the first half of this year.
Bitfinex Securities CTO Paolo Ardoino expressed enthusiasm about the launch in El Salvador, highlighting the country’s unique position due to its adoption of Bitcoin as legal tender and efforts to nurture a Bitcoin-centric economy.
Ardoino believes the move will benefit Bitfinex and enable El Salvador to attract global investment through competitively priced securities offerings.
The company’s optimism is partly fueled by the success of U.S. spot Bitcoin ETF, with Bitfinex anticipating strong demand for similar regulated digital asset investment vehicles. Jesse Knutson, Head of Operations at Bitfinex Securities, pointed out the recent surge of institutional investor interest in Bitcoin-focused financial products as a positive sign for their venture.
El Salvador has been in the cryptocurrency spotlight since 2021, following its decision to grant Bitcoin legal tender status. The country also introduced the “Adopting El Salvador Freedom Visa” program in December with collaboration from stablecoin issuer Tether.
The program allows investors to apply for the Freedom Visa by investing $1 million in Bitcoin or USDT. El Salvador recently established a digital asset regulatory framework, laying the groundwork for fully operational Bitcoin-based financial markets, further solidifying its position in the digital currency landscape.
