Bitget Secures El Salvador Crypto Licence

This new license follows an earlier approval for a Bitcoin services provider license that Bitget received in 2024.

According to Bitget, this new licensing allows them to offer a broader range of services within El Salvador. These expanded services include spot and derivatives trading, as well as staking and other yield-focused products.

Hon Ng, the chief legal officer at Bitget, explained that the company’s decision to expand in El Salvador is linked to the country’s “progressive and transparent approach to Bitcoin (BTC) and digital asset regulation”. He believes this approach makes El Salvador an “attractive jurisdiction for good quality web3 companies aiming to operate responsibly at scale”.

Furthermore, Hon Ng stated that Bitget’s focus is to enter countries that have a regulated framework for crypto. As part of its global regulatory strategy, Bitget aims to “provide our best services” in these regions. The company also indicated its intention to continue supporting jurisdictions that offer “clear frameworks and support the development of a secure, efficient crypto economy”.

Bitget is not the only web3 company looking to establish operations in El Salvador. This trend follows El Salvador’s commitment to becoming a crypto-friendly hub. For example, Tether, a stablecoin issuer, also announced its move to El Salvador after securing a digital asset service provider license there in early January. 

El Salvador’s National Library (BINAES) has launched a Bitcoin section to educate the public about the cryptocurrency. This initiative includes a collection of Bitcoin literature and a full-node display. It is led by Bitcoin educator PupusasG, a prominent Salvadoran advocate and CUBO+ graduate. The effort aims to solidify Bitcoin’s role within El Salvador’s financial system.

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