Bitget secures the license for Digital Asset Service Provider (DASP) in El Salvador

• Bitget has received the license for Digital Asset Service Provider (DASP) from El Salvador’s National Commission for Digital Assets (CNAD)

• This development comes after the earlier acquisition of the Bitcoin Services Provider (BSP) license in 2024

With the DASP and BSP licenses Bitget able to offer a wide range of digital services in El Salvador. The DASP license includes business such as spot and derivatives trading, staking and other yield-based financial products as well as an infrastructure that facilitates access to crypto-based savings and investment solutions.

“Our focus at Bitget is to enter into countries with a regulated framework for crypto and offer our best services while we expand our global regulatory strategy”,

said Hon of, Chief Legal Officer Bei Bitget.

“We are enthusiastic that we can offer a number of products through this license, and we feel honored by the trust of the National Commission for Digital Assets from El Salvador. With his advanced and transparent approach in regulating Bitcoin and digital assets, it is ahead of many, which makes the country an attractive location for high-quality web3 companies that Working scale.

The regulatory environment in El Salvador

El Salvador is one of the first countries to adopt comprehensive laws that support the integration of Bitcoin and digital assets into its financial ecosystem and act as an official currency. El Salvador’s regulatory environment has attracted attention because it attracts global crypto companies. Popular crypto companies have already shifted their strategic activities to the country.

This development reflects the ongoing trend towards competition between the countries that try to attract innovations in the field of digital assets. The CNAD in El Salvador is becoming increasingly active when evaluating and approving service providers, which is a sign of the increasing maturity of regulation in the region.