Bitget Secures DASP License in El Salvador, Expands Crypto Services
2min read Bitget, a prominent cryptocurrency exchange, has secured a Digital Asset Service Provider (DASP) license from El Salvador’s National Commission of Digital Assets. This latest approval builds on an earlier license obtained in 2024, which allowed Bitget to offer Bitcoin-related services under the Bitcoin Services Provider (BSP) framework. With the new DASP license, Bitget is now authorized to provide a comprehensive range of crypto services in El Salvador, including spot and derivatives trading, staking, wallet infrastructure, and custody services. This dual licensing under both the BSP and DASP frameworks positions Bitget to serve the local market with a broader array of digital assets, enhancing its regulatory compliance and operational capabilities.
The expansion of Bitget’s services in El Salvador is set to benefit users significantly. With the new license, the exchange can now support trading in various cryptocurrencies beyond Bitcoin, such as Ethereum, stablecoins, and altcoins. Salvadoran users will have access to additional services like staking and futures trading, providing them with more options for managing their digital assets. Bitget is also committed to offering localized services tailored to the needs of Salvadoran users, including new tools for digital asset management and educational initiatives aimed at improving crypto literacy in the country. The exchange’s goal is to empower users with secure and regulated crypto engagement tools, fostering a more informed and confident user base.
El Salvador’s regulatory landscape for cryptocurrencies has evolved since the country adopted Bitcoin as its official legal tender in 2021. The introduction of the Digital Assets Issuance Law in January 2023 provided a framework for digital asset companies to operate within the country. However, the implementation of cryptocurrency has faced several challenges. A survey conducted in September 2024 revealed that less than 8% of the population had conducted Bitcoin transactions, and the total flow of remittances utilizing crypto methods represented an insignificant fraction below 1%. In response to these challenges, El Salvador made Bitcoin use optional in January 2025 and dropped the obligation for businesses to accept it. Additionally, a cooperation agreement signed with Paraguay in March 2025 aims to enhance the supervision of digital asset companies, reflecting the country’s ongoing efforts to refine its regulatory approach.
Bitget’s entry into El Salvador is part of its broader global expansion strategy. The company has recently secured licenses and formed partnerships in various regions, including Lithuania and the UAE. These strategic moves underscore Bitget’s commitment to expanding its presence in markets with well-defined crypto regulations, enabling the company to deliver secure and reliable services. Hon Ng, Chief Legal Officer at Bitget, highlighted the significance of El Salvador’s structured approach to digital asset regulation. “El Salvador is setting the pace with clear and forward-thinking policies around Bitcoin and digital assets,” he stated. “At Bitget, we aim to grow in markets where crypto regulations are well-defined, so we can deliver secure and reliable services as part of our broader global strategy.” This strategic alignment with regulatory frameworks positions Bitget for sustained growth and success in the global cryptocurrency market.
