Bitfinex has launched Bitfinex Securities El Salvador S.A. de C.V., its securities tokenization services company in the country. The exchange, one of the first regulated digital asset service providers in El Salvador, expects its proposal to be well-received among potential customers and has planned for several token issuances this year.
Bitfinex Launches Digital Securities Issuance Company in El Salvador
Bitfinex, a cryptocurrency exchange, has started its securities issuance platform in El Salvador. Under the name of Bitfinex Securities El Salvador S.A. de C.V., the platform has officially launched operations in El Salvador, taking advantage of its enabling crypto regulatory framework, in a move that the company qualified as a “substantial leap for financial innovation in Latin America and globally.”
The company, which is the first regulated digital assets service provider in the country, is already open to service private customers and expects to have a strong demand for crypto products this year, fueled by the recent approval of bitcoin ETF products in the U.S.
Paolo Ardoino, CTO of Bitfinex Securities, remarked on the relevance of the company’s launch for the future of El Salvador’s digital economy, stating that this would allow it to attract global investment flows directed to digital assets investments. Ardoino stated:
We’re proud to be at the forefront of this financial revolution, providing a platform for companies and investors worldwide to explore the limitless possibilities of digital assets.
The possibilities for Bitfinex and other digital assets companies in the country were opened last year when the Digital Assets Securities Law was passed, regulating everything related to crypto securities and creating the National Commission of Digital Assets, an institution focusing on the oversight of these activities.
In a press release, Bitfinex reported that it had been working with global issuers to build a “robust pipeline” of digital products to be unveiled in the coming months. More specifically, Bitfinex predicts a surge of these tokenized products during the first half of 2024.
To follow all the latest developments in crypto and the economy in Latin America, sign up for our Latam newsletter below.
What do you think about the launch of Bitfinex Securities in El Salvador? Tell us in the comments section below.
