- Bitget has secured a Bitcoin Service Provider (BSP) license from El Salvador’s Central Reserve Bank.
- The license allows Bitget to offer Bitcoin-to-fiat exchanges, payment processing, and secure custody solutions.
- Bitget is also working to obtain a Digital Assets Service Provider (DASP) license to expand its services beyond Bitcoin in the region.
Leading cryptocurrency exchange Bitget has officially obtained a Bitcoin Service Provider (BSP) license from El Salvador’s Central Reserve Bank. This allows Bitget to offer Bitcoin services in the country, such as Bitcoin-to-fiat exchanges, payment processing, and Bitcoin custody solutions.
Notably, acquiring the BSP license is a significant part of Bitget’s strategic efforts to strengthen its regulatory framework and broaden its global footprint. With this license, Bitget is authorized to engage in Bitcoin-related activities, such as buying, selling, storing, and transferring Bitcoin.
Furthermore, the exchange is actively working to secure the Digital Assets Service Provider (DASP) license from El Salvador’s National Commission of Digital Assets. This would allow Bitget to expand its services to include a broader array of cryptocurrencies beyond Bitcoin.
Bitget’s Latin America Expansion
El Salvador , the first country to adopt Bitcoin as legal tender, is a critical entry point for Bitget’s Latin American expansion. The region is becoming a global hub for crypto adoption, with growing use cases in financial inclusion, remittances, and economic resilience.
Bitget’s local team in El Salvador aims to enhance its regional operations, ensuring secure and accessible Bitcoin services tailored to the unique needs of Latin American users. Min Lin, Bitget’s Chief Business Officer, highlighted the potential of Latin America as a key hub for crypto innovation:
“Securing the BSP license is a regulatory milestone for Bitget. As interest in cryptocurrency continues to surge, we view El Salvador as a gateway to unlocking the full potential of crypto, driving financial inclusion.”
Bitget’s Global Regulatory Efforts
The licensing update marks another milestone in Bitget’s regulatory journey. The exchange has already secured Virtual Asset Service Provider (VASP) licenses in Poland and Lithuania, which allow it to operate within those European markets.
Additionally, Bitget has made its return to the UK market through a partnership with Archax, a UK FinProm approver, to ensure compliance with the Financial Conduct Authority’s (FCA) Financial Promotions Regime.
Bitget’s efforts in Latin America align with the region’s growing demand for crypto solutions. By establishing a presence in El Salvador, the company wants to help drive digital asset adoption. Bitget wants to be a clear leader among centralized exchanges (CEXs) that offer compliant services around the world.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
