El Salvador granted Bitfinex that country’s first license for digital asset service providers, the company said on Tuesday.
“We are delighted to be the first company to be awarded this license,” Paolo Ardoino, chief technology officer at Bitfinex, said in the statement. “It will enable Bitfinex Securities to facilitate the issuance and secondary trading of assets with clearly defined rights and obligations as outlined in the new digital asset regulatory regime.” Ardoino has worked closely with El Salvador on the bitcoin bond project.
Among the products that the new regulation will allow to launch are tokenized shares and yield-bearing assets, said Jesse Knutson, head of operations at Bitfinex Securities.
Under the leadership of President Nayib Bukele, El Salvador in September 2021 became the first in the world to make bitcoin legal tender.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.