Bitget, a global cryptocurrency platform, has obtained a Bitcoin Service Provider license from El Salvador’s Central Reserve Bank, enabling it to offer Bitcoin-to-fiat exchanges, payments, and custody services in the country.
The license allows Bitget to operate as an official Bitcoin service provider in El Salvador, a nation that made Bitcoin legal tender in 2021. Bitget is also pursuing a Digital Assets Service Provider license from the National Commission of Digital Assets in El Salvador to expand its services to include other cryptocurrencies. This move is part of Bitget’s broader strategy to strengthen its regulatory position and expand its footprint in Latin America.
The license acquisition marks Bitget’s latest milestone in its global expansion efforts, aligning with the growing adoption of cryptocurrency in El Salvador and across the region.
The license applies to operations within El Salvador, which has become a global hub for Bitcoin adoption. Bitget aims to leverage the country’s pro-crypto environment as a gateway to the wider Latin American market.
El Salvador’s adoption of Bitcoin as legal tender has created a burgeoning crypto market, presenting significant opportunities for global platforms like Bitget. By securing regulatory approval, Bitget aims to tap into this market and establish itself as a leading player in the region’s cryptocurrency ecosystem.
Alongside its operations in El Salvador, Bitget has obtained Virtual Asset Service Provider licenses in Poland and Lithuania, demonstrating its commitment to regulatory compliance across jurisdictions. The company has also re-entered the UK market through a partnership with Archax, signaling its ambition to expand globally. Bitget plans to establish a dedicated team in El Salvador to strengthen its local presence and ensure seamless service delivery.
By securing this license, Bitget is poised to capitalize on the growing demand for cryptocurrency services in Latin America, while reinforcing its reputation as a compliant and globally expanding crypto platform. This move aligns with the company’s mission to connect crypto services with emerging markets worldwide.
