Wednesday, October 4, 2023

Binance received two licenses to operate in El Salvador as it seeks to build its legitimacy worldwide, the crypto exchange said Tuesday, adding that it now has licenses in 18 markets.

The Central Bank of El Salvador (Banco Central de Reserva) granted Binance a Bitcoin Services Provider (BSP) license, while the Salvadoran National Commission of Digital Assets issued a non-provisional Digital Assets Services Provider license (DASP), the company said in a statement.

“These licenses allow Binance to expand the products and services offered including options tailored to the needs of our customers in El Salvador,” Daniel Acosta, general manager for Colombia, Central America and Caribbean at Binance, said in the statement.

In January, the Legislative Assembly of El Salvador passed a law that regulates digital securities and created a framework for the Central American country to launch bitcoin-backed bonds, also known as “Volcano Bonds.” In April, Bitfinex said it was granted the country’s first digital asset service provider license.

Edited by Sheldon Reback.

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