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**Bitget Receives Bitcoin Service Provider (BSP) License in El Salvador, Now Going Global**
In a recent announcement, Bitget, a prominent global cryptocurrency exchange, has successfully secured a Bitcoin Service Provider (BSP) license from the Central Reserve Bank of El Salvador. This significant development marks a critical milestone for the company as it paves the way for expanding its service offerings beyond Bitcoin and tapping into Latin America’s rapidly growing digital asset market.
By obtaining this license, Bitget can now provide an array of services to its clients in El Salvador, including Bitcoin-to-fiat exchanges, BTC payments, and secure asset custody. This move demonstrates the exchange’s commitment to expanding its global presence and catering to the diverse needs of its users worldwide.
El Salvador has emerged as a beacon for cryptocurrency adoption since making Bitcoin legal tender in 2021. Bitget recognizes this country’s potential as a hub for crypto innovation and is keen to capitalize on this opportunity. According to Min Lin, Chief Business Officer at Bitget, the platform views El Salvador as a strategic gateway to unlock the true potential of cryptocurrency.
In addition to its expansion in Latin America, Bitget has been actively pursuing global growth by securing a VASP license in Poland and collaborating with UK-based Archax to ensure regulatory compliance. This underscores the company’s dedication to providing secure and compliant crypto services worldwide.
It is worth noting that Bitget is also applying for a Digital Asset Service Provider (DASP) license from the National Commission of Digital Assets in El Salvador, signifying its ambition to become an all-encompassing digital asset platform, offering more than just Bitcoin to its users.
Source: coinpedia.org
