Bitget secures key licenses in El Salvador, joins other crypto companies, and explores the country's growing appeal as a regulated hub of digital assets.
Cryptocurrency Exchange Bitget received a digital asset service provider license from the El Salvador National Digital Assets Commission following previous approval of its Bitcoin Service Provider license in early 2024, the company said in a press release Friday.
According to the exchange, the new license will allow more services in the country, including spot and derivative trading, staking and other yield-focused products.
Bitget's Chief Legal Officer Hon Ng said the company's move towards growth in El Salvador “relating to the country's ongoing push to stay ahead of many with a progressive, transparent approach to Bitcoin (BTC) and digital asset regulations, making it an attractive jurisdiction for quality web3 companies aimed at operating responsibly on scale.
“Bitget's focus is to join countries with a regulated crypto framework and provide the best service in expanding their global regulatory strategy.”
Hon ng
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Bitget said that despite not giving a name to a particular country, it plans to continue supporting jurisdictions that “provide and support a clear framework” to support the development of clear and efficient cryptoeconomics.
Bitget isn't just looking for El Salvador. Other Web3 companies have moved to set up their business there after committing to becoming a crypto-friendly hub. For example, in early January, Stablecoin Issuer Tether said it would move its business enterprises and subsidiaries to El Salvador after securing a Central American digital asset service provider license.
read more: Trump invites El Salvador's President to the White House – Will Bitcoin find a seat at the table?
