Bitcoin

<a href="https://www.cryptopolitan.com/el-salvador-to-open-bitcoin-embassy-in-texas/">El Salvador</a> has granted Bitfinex, a leading cryptocurrency exchange, the nation&#8217;s first license for digital asset service providers. The license issuance follows a law passed in January by the Legislative Assembly of El Salvador, which established a regulatory framework for digital securities and paved the way for the launch of bitcoin-backed bonds, also known as &#8220;Volcano Bonds.&#8221;



Paolo Ardoino, Chief Technology Officer at Bitfinex, expressed delight at being the first company to receive this license, stating that it would enable Bitfinex Securities to facilitate the issuance and secondary trading of assets with well-defined rights and obligations, as specified in the new digital asset regulatory regime. Ardoino has been actively involved in El Salvador&#8217;s Bitcoin bond project.



Jesse Knutson, Head of Operations at Bitfinex Securities, added that the new regulation would allow for the launch of tokenized shares and yield-bearing assets.



<h2 id="another-bold-initiative-for-el-salvador-in-the-digital-assets-space">Another bold initiative for El Salvador in the digital assets space</h2>



<a href="https://coinmarketcap.com/alexandria/glossary/tokenized-securities" rel="nofollow noopener" target="_blank">Tokenized securities</a> are considered groundbreaking because they integrate the technological advancements offered by cryptocurrencies, such as Bitcoin, into traditional regulated securities offerings. This fusion provides several disruptive advantages that legacy securities markets cannot replicate.



Some of the key benefits of tokenized securities include instant trade settlement, cryptographically verified transactions, the capacity to self-custody and trade securities peer-to-peer (P2P), and round-the-clock trading.



In 2022, the global securities market was valued at $119.75 billion. Tokenizing securities could potentially bring this market into the ongoing financial revolution driven by digital assets and cryptocurrencies. The global crypto market, currently valued at $1.24 trillion, reached $3 trillion at its peak during the last bull market and is expected to continue growing.



This presents an enticing opportunity for issuers and crypto-native investors seeking a crypto-like trading experience with the speed, cost efficiencies, and ease of issuance of digital assets, which is not available in traditional securities markets.



El Salvador&#8217;s position as a global pioneer in Bitcoin adoption, coupled with its newly established Bitcoin office, Bitcoin Embassies, and digital asset service provider licenses, makes it the first credible venue for a new and disruptive global tokenized security market.



Bitfinex Securities&#8217; selection as the first recipient of a Salvadoran Digital Asset License is a historic milestone, and the company is proud to offer a world-class securities token platform to the people of El Salvador and the global community.

El Salvador provides first digital asset license to Bitfinex

목차

Cryptopolitan_News

2023년 4월 11일에 게재된 다른 기사

Bitcoin - the go-to asset for next 2 years?

Sei Labs Raises $30M in Funding to Develop Layer 1 Blockchain for Trading

Cardano Creators Launch Lace Wallet: The Latest Addition to the Growing ADA Ecosystem

Inside China’s ambitious plan to manage AI services

Crypto Exchange GDAC Halts Deposits and Withdawals Following $13 Million Hack

Yellow Card to conduct financial literacy tour at University of Benin to empower African youths.

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!