Bitget Receives Bitcoin Service Provider License from El Salvador’s Central Reserve Bank
Victoria, Seychelles – Bitget, the leading cryptocurrency exchange and Web3 company, has successfully obtained the Bitcoin Service Provider (BSP) License from El Salvador’s Central Reserve Bank (Banco Central de Reserva). This license empowers Bitget to offer various services, including Bitcoin-to-fiat conversion, Bitcoin payment processing, and secure Bitcoin storage solutions for its clients.
This milestone is a key part of Bitget’s broader strategy to strengthen its legal standing and expand its global footprint. With the BSP license in hand, Bitget is now authorized to engage in Bitcoin-related activities in El Salvador, such as buying, selling, storing, and transferring Bitcoin. In addition to Bitcoin services, Bitget is actively pursuing the Digital Asset Service Provider (DASP) license from the National Digital Asset Commission. This license will allow the platform to offer a wider range of cryptocurrency services beyond Bitcoin.
“Latin America holds great potential as a hub for cryptocurrency innovation, with El Salvador leading the way by adopting Bitcoin as legal tender. The BSP license is a significant legal achievement for Bitget. We are here to contribute to the region’s growth by providing secure, accessible, and innovative Bitcoin services. As global interest in cryptocurrencies grows, we see El Salvador as a gateway to unlocking the full potential of digital currencies, promoting financial inclusion, and driving groundbreaking real-world applications,” said Min Lin, Business Director of Bitget.
Expansion Across Europe and the UK
In addition to its recent achievement in El Salvador, Bitget has also received the Virtual Asset Service Provider (VASP) license in Poland and Lithuania, enabling the exchange to operate legally within these European markets. Furthermore, Bitget has made its return to the UK market by partnering with Archax, a regulated partner in the UK, to comply with the Financial Conduct Authority’s (FCA) Financial Promotion Regulations.
Local Team in El Salvador to Support LATAM Operations
To enhance its operations in Latin America, Bitget is establishing a dedicated team in El Salvador. This local presence will improve service quality and foster closer relationships with users in the region. Through these strategic initiatives, Bitget is progressing toward its goal of becoming one of the largest centralized exchanges (CEX), providing secure and compliant services across various legal jurisdictions worldwide.
The acquisition of the BSP license in El Salvador aligns with Bitget’s plans for expanding within the Latin American region, a region increasingly recognized for its cryptocurrency adoption and potential. Latin American countries are now embracing digital currencies as solutions for financial inclusion, remittances, and economic stability, particularly amidst the volatility of fiat currencies. As the first country to adopt Bitcoin as legal tender, El Salvador serves as an entry point for Bitget into this rapidly growing financial market. By establishing a strong presence in the region, Bitget aims to contribute to the development of the digital asset ecosystem, offering secure and compliant Bitcoin services tailored to the needs of users in Latin America.
About Bitget
Founded in 2018, Bitget is a global leader in cryptocurrency exchange and Web3 technology, serving over 45 million users across more than 150 countries and regions. The platform is committed to empowering users to trade smarter through innovative features such as copy trading and other trading solutions, while also providing real-time information on Bitcoin, Ethereum, and other cryptocurrencies.
Previously known as BitKeep, Bitget’s multi-chain wallet is a top-tier global solution that offers a wide range of Web3 functionalities, including wallet services, token swaps, NFT marketplaces, DApp browsers, and more. Bitget is also leading the charge in promoting cryptocurrency adoption through strategic partnerships, such as its role as the Official Crypto Partner of the world’s top football league, LaLiga, in Southeast Asia and Latin America. Additionally, Bitget has partnered globally with Turkish national athletes like Buse Tosun Çavuşoğlu (World Wrestling Champion), Samet Gümüş (Gold Medalist Boxer), and İlkin Aydın (National Volleyball Team), to inspire a global community to embrace the future of cryptocurrencies.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 10,000+ articles for Bitcoin.com News about the disruptive protocols emerging today.