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.
The new license regulates digital securities under a law passed by the Salvadoran Legislature in January and allows the issuance of Bitcoin-backed bonds, also known as “Volcano Bonds”, in the country.
Bitfinex Chief Technology Officer Paolo Ardoino said:
“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.”
Jesse Knutson, Head of Operations at Bitfinex Securities, stated that the new regulation will allow the launch of products such as tokenized stocks and yielding assets.
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