Bitget Secures Digital Asset Service Provider License from El Salvador
Crypto exchange Bitget has received the Digital Asset Service Provider (DASP) license from El Salvador, allowing the platform to expand its crypto offerings in the country.
On April 4, 2025, Bitget announced in a press release that the DASP license granted by El Salvador’s National Commission of Digital Assets (CNAD) covers operations such as spot and derivatives trading, staking, and other yield farming and investment products.
Earlier, in December 2024, Bitget also received a Bitcoin Services Provider (BSP) license in the country.
Holding both licenses enables Bitget to offer services to both retail and institutional clients with greater legal and operational flexibility.
Hon Ng, Chief Legal Officer at Bitget, mentioned that the company aims to expand its global regulatory strategy and enter countries with established regulatory frameworks for crypto. Speaking specifically about El Salvador, he added:
El Salvador has been ahead of many with its progressive and transparent approach to Bitcoin and digital asset regulation, making it an attractive jurisdiction for good quality Web3 companies aiming to operate responsibly at scale.
El Salvador’s Crypto-Friendly Environment and Plan B Strategy
El Salvador is one of the most crypto-friendly countries in the world. In 2021, under President Nayib Bukele‘s leadership, it became the first country to adopt Bitcoin as legal tender. The government launched the Chivo wallet, allowing people to pay with crypto at cafes, stores, and government agencies.
The crypto-friendly policies of the country have attracted many Bitcoin enthusiasts and crypto businesses to relocate to the country. To encourage this, in 2023, El Salvador introduced the “Freedom Visa” initiative, offering citizenship in exchange for a $1 million Bitcoin or Tether investment.
In January 2025, Tether, the company behind USDT, also announced its move to El Salvador after receiving a DASP license as a stablecoin issuer.
As part of its broader Plan B strategy, El Salvador aims to drive crypto adoption and promote financial inclusion for its unbanked population. A key element of Plan B is leveraging Bitcoin to reduce the country’s reliance on the U.S. dollar (the traditional currency in El Salvador), giving citizens a new tool to store and transfer wealth.
By adopting Bitcoin, the country hopes to reduce the costs of remittances, which make up a significant portion of El Salvador’s GDP, and provide financial services to its unbanked population.
El Salvador also continues to add Bitcoin to its national treasury and is one of the largest Bitcoin holders, with 6,136 BTC valued at over $507 million, including more than $287 million in profit.
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