Bitfinex Derivatives, a division of the Bitfinex crypto exchange, has announced its relocation to El Salvador after obtaining a Digital Asset Service Providers (DASP) license. This license allows the company to offer asset tokenization services, including real estate, debt obligations, and stock instruments.

The move by Bitfinex Derivatives highlights El Salvador's commitment to becoming a global hub for financial technology and crypto innovation. According to Paolo Ardoino, the company's technical director, this step will strengthen the platform's capabilities and provide users with secure access to new financial instruments.

El Salvador has been actively developing crypto regulation since the adoption of the Digital Assets Act in 2023. The new Bitfinex platform has already managed to conduct the first tokenized offerings of US government bonds under local jurisdiction.