El Salvador grants Bitget license to offer Bitcoin services
El Salvador has authorised crypto exchange Bitget to provide Bitcoin-related (CRYPTO:BTC) services in the country.
On December 16, Bitget secured a Bitcoin Service Provider (BSP) license from the Central Reserve Bank of El Salvador.
This license will allow Bitget to offer a variety of services, including fiat currency exchanges, payment services, and secure custody solutions for users in the country.
The exchange is also seeking further approval from the National Commission of Digital Assets for a digital asset service provider license.
This additional license would enable Bitget to offer similar services for other digital assets beyond Bitcoin.
Min Lin, Bitget’s chief business officer, highlighted the importance of El Salvador in Latin America’s growing crypto ecosystem.
“Latin America holds immense promise as a hub for crypto innovation, and El Salvador stands out as a pioneer with its bold embrace of Bitcoin as legal tender. As the world’s interest in crypto accelerates, we see El Salvador as a gateway to unlocking crypto’s potential,” he stated.
Bitget, based in Seychelles, is already licensed as a virtual asset service provider in Poland and Lithuania.
The exchange also re-entered the UK market in November after complying with local regulations.
With over 45 million global users and a trading volume exceeding $6 billion in the past 24 hours, Bitget is positioning itself as a key player in the crypto industry.
The approval for Bitget comes as El Salvador is also negotiating a $1.3 billion loan with the International Monetary Fund (IMF), which could lead to amendments in the country’s Bitcoin law, making Bitcoin acceptance voluntary for businesses.
El Salvador continues to expand its digital asset strategy, recently signing agreements with Argentina and engaging with over 25 countries for similar initiatives.
At the time of reporting, the price of Bitcoin (BTC) was $106,725.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.
OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.
New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More
