The exchange wants to provide innovative solutions “to the underserved regions of Latin America.”
Several Bitfinex businesses have already moved to El Salvador.
Bitfinex Derivatives, the arm of the cryptocurrency exchange dedicated to the financial derivatives sector, announced that it will move its headquarters to El Salvador. This move comes after the company received a license as a digital asset service provider from the National Commission for Digital Assets (CNAD).
According to the release of Bitfinex Derivatives, with this license “they are proud” to move the subsidiary company to El Salvador, a country that they highlight as “a leader in the construction of a solid digital economy.”
The entity expressed that this measure “strengthens our mission to offer innovative business solutions, especially to underserved regions in Latin America.”
For Bitfinex, obtaining this license represents a “monumental step” in its global expansion goal, in addition to the new license “supporting El Salvador as a key financial center for digital assets.”
According to the announcement, the exchange’s derivatives services will be provided by Bitfinex Derivatives El Salvador SA de CV Therefore, they clarify that, to continue using these services from this moment on, Users must accept the terms of service of the -now- Salvadoran company.
Cryptocurrency derivatives are financial products whose value is derived from an underlying asset, in this case, cryptocurrencies. These include futures, options and swaps, allowing investors to speculate on the future price of cryptoassets or hedge risks associated with the volatility of these assets.
Bitfinex Derivatives, a division of the Bitfinex cryptocurrency exchange, specializes in offer trading services for these derivativesproviding users the ability to trade with leverage, place buy and sell orders at predetermined prices, and participate in perpetual futures markets, among others.
Bitfinex already has a strong presence in El Salvador, and several of its businesses have already moved to this country. A notable example is Bitfinex Securitieswhich is dedicated to the stocks and securities sector. This entity was registered in October 2023 as a digital asset service provider.
Through Bitfinex Securities, the company has launched several products, such as a token based on US Treasury bills, as CriptoNoticias reported in November 2024.
Bitfinex’s influence in El Salvador has grown significantly over time. The decision to move its derivatives operations to the country not only reinforces its commitment to the region, but also underlines the relevance that Bitfinex has gained in El Salvador.
Bitfinex’s presence in the country has contributed to positioning El Salvador as a Emerging hub for digital financial innovationtaking advantage of the favorable regulations and enabling environment for cryptocurrencies that the country has fostered.
Bitfinex has shown continued commitment to El Salvador, not only through the relocation of its operations, but also by promoting education and financial inclusion. This has allowed Bitfinex to not only expand geographically, but also culturally and economically, aligning with the needs and development of local communities.
