Bitget secures Bitcoin service provider license in El Salvador

Bitget announced that they received a Bitcoin Service Provider license from the Central Reserve Bank of El Salvador.

The license allows Bitget to facilitate Bitcoin-fiat exchanges, Bitcoin (BTC) payments and custody services in the country. With its BSP license, Bitget can now offer Bitcoin-focused services such as buying, selling, storing and transferring BTC.

This milestone is part of Bitget’s broader strategy to strengthen its regulatory position and expand globally.

The company is also seeking to obtain a Digital Assets Service Provider license from the National Digital Assets Commission of El Salvador. This additional license will allow Bitget to offer services for other cryptocurrencies beyond Bitcoin in El Salvador.

El Salvador has emerged as a global hub for cryptocurrency adoption since declaring Bitcoin as legal tender in 2021. The country’s pro-Bitcoin policies provide an entry point for companies like Bitget to expand into Latin America, a region where cryptocurrencies are used for remittances. financial inclusion and as a hedge against volatile fiat currencies.

Bitget’s latest moves

Bitget has also obtained Virtual Asset Service Provider licenses in Poland and Lithuania, streamlining its operations in European markets. The exchange recently re-entered the UK market by partnering with Archax to comply with the Financial Conduct Authority’s promotional rules.

Bitget plans to establish a dedicated team in El Salvador to strengthen its presence in Latin America. This initiative aims to improve service delivery and develop stronger relationships with local users.