{"id":20172,"date":"2025-01-09T16:30:50","date_gmt":"2025-01-09T14:30:50","guid":{"rendered":"https:\/\/forklog.com\/en\/bitfinex-relocates-its-derivatives-trading-service-to-el-salvador\/"},"modified":"2025-01-09T16:30:50","modified_gmt":"2025-01-09T14:30:50","slug":"bitfinex-relocates-its-derivatives-trading-service-to-el-salvador","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitfinex-relocates-its-derivatives-trading-service-to-el-salvador\/","title":{"rendered":"Bitfinex relocates its derivatives trading service to El Salvador"},"content":{"rendered":"<p>Bitfinex\u2019s crypto-derivatives trading will now be provided by a company registered and licensed in El Salvador.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">? Bitfinex Derivatives has been awarded a Digital Asset Service Provider licence in ?? El Salvador \u2014 a monumental step in our global expansion.<\/p>\n<p>The new licence supports El Salvador as a key digital asset financial centre.<br \/>Discover more:<a href=\"https:\/\/t.co\/vPGO01clhp\">https:\/\/t.co\/vPGO01clhp<\/a> <a href=\"https:\/\/t.co\/79hdbBHONX\">pic.twitter.com\/79hdbBHONX<\/a><\/p>\n<p>\u2014 Bitfinex (@bitfinex) <a href=\"https:\/\/twitter.com\/bitfinex\/status\/1876707061712470380?ref_src=twsrc%5Etfw\">January 7, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The bitcoin exchange warned users that they must accept the terms of service of Bitfinex Derivatives El Salvador SA de CV to access the service.<\/p>\n<p>Until January 7, 2025, the derivatives unit was operated by Seychelles-based iFinex Financial Technologies Limited.<\/p>\n<p>Bitfinex <a href=\"https:\/\/t.me\/forklog\/41827\">announced<\/a> the relocation of its derivatives business to El Salvador immediately after obtaining a digital asset service provider licence in the country.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWith this licence, we are proud to move Bitfinex Derivatives to El Salvador \u2014 a country leading the way in building a robust digital economy. This step strengthens our mission to provide innovative trading solutions, especially in underserved regions of Latin America,\u201d the exchange said.\u00a0\u00a0<\/p>\n<\/blockquote>\n<p>This is the second regulatory approval for Bitfinex\u2019s entities in the jurisdiction. In January 2024, Bitfinex Securities El Salvador SA de CV, a platform for tokenised securities, began official operations in the country.<\/p>\n<p>In April, the company <a href=\"https:\/\/forklog.com\/en\/news\/bitfinex-to-tokenize-hotel-construction-in-el-salvador\">announced the issuance<\/a> of digital debt to finance construction of a Hampton by Hilton hotel at the country\u2019s international airport. Inversiones Laguardia SA de CV, the firm behind the product, aimed to raise $6.25 million through the sale of HILSV tokens on Bitcoin\u2019s Liquid Network sidechain.<\/p>\n<p>In July, Bitfinex Securities said it would <a href=\"https:\/\/forklog.com\/en\/news\/bitfinex-to-refund-investors-in-failed-el-salvador-hotel-project\">return funds<\/a> \u2014 it failed to raise even the minimum $500,000.<\/p>\n<p>In February, the architect of El Salvador\u2019s bitcoin strategy, President Nayib Bukele, was <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-advocate-nayib-bukele-re-elected-as-president-of-el-salvador\">re-elected<\/a> for a second term.<\/p>\n<p>At the end of 2024, the government <a href=\"https:\/\/forklog.com\/en\/news\/el-salvador-to-limit-bitcoin-strategy-under-1-4-billion-imf-agreement\">reached an agreement<\/a> with the <span data-descr=\"International Monetary Fund\" class=\"old_tooltip\">IMF<\/span> on a financing package of up to $3.5 billion. The deal provides for certain restrictions on the state\u2019s cryptocurrency policy.<\/p>\n<p>Despite this, the authorities have <a href=\"https:\/\/forklog.com\/en\/news\/el-salvador-expands-bitcoin-purchases-despite-imf-deal\">been buying bitcoin<\/a> \u201cat an accelerated pace\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitfinex\u2019s crypto-derivatives trading will now be provided by a company registered and licensed in El Salvador. ? Bitfinex Derivatives has been awarded a Digital Asset Service Provider licence in ?? El Salvador \u2014 a monumental step in our global expansion. The new licence supports El Salvador as a key digital asset financial centre.Discover more:https:\/\/t.co\/vPGO01clhp pic.twitter.com\/79hdbBHONX [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20171,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[95,1166,1168,1278],"class_list":["post-20172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitfinex","tag-centralized-exchanges-cex","tag-crypto-derivatives","tag-el-salvador"],"aioseo_notices":[],"amp_enabled":true,"views":"103","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/20172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=20172"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/20172\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/20171"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=20172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=20172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=20172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}