Digital platform Bitfinex Securities El Salvador established for issuing tokenized real-world assets such as equities and bonds has received approval to be licensed as a Digital Asset Service Provider under El Salvador's new law.
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According to a blog announcement published on Tuesday, the license will enable Bitfinex Securities to conduct the issuance and secondary trading of tokenized assets with obligations "outlined in the new digital asset regulatory regime." Bitfinex CTO, Paolo Ardoino, says the permission gives a whole range of entities, from small companies to governments, a tool to "raise capital in a regulated environment, and tap into a class of investors that are extremely comfortable with crypto assets and tokenized securities."
Bitfinex points out that Bitfinex Securities El Salvador will operate separately from the exchange. The platform added that a "robust pipeline" of small and large issuances is already scheduled to be announced throughout the remainder of this year.
In September 2021, El Salvador officially legalized bitcoin as legal tender. The country's president, Nayib Bukele, later announced the purchase of 400 BTC (EXANTE: Bitcoin) by the country's authorities. The purchase became part of a new $150 million fund approved by the country's authorities aimed at guaranteeing the exchange between bitcoins and dollars.
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