Bitget announced they obtained a Bitcoin Service Provider license from El Salvador’s Central Reserve Bank. 

The license allows Bitget to facilitate Bitcoin-to-fiat exchanges, Bitcoin (BTC) payments, and custody services in the country. With the BSP license, Bitget can now offer Bitcoin-focused services such as buying, selling, storing, and transferring BTC.

This milestone is part of Bitget’s broader strategy to strengthen its regulatory standing and expand globally. 

The company is also pursuing a Digital Assets Service Provider license from El Salvador’s National Commission of Digital Assets. This additional license would enable Bitget to offer services for other cryptocurrencies beyond Bitcoin in El Salvador.

El Salvador has emerged as a global hub for cryptocurrency adoption since declaring Bitcoin a legal tender in 2021. The country’s pro-Bitcoin policies provide an entry point for companies like Bitget to expand in Latin America, a region where crypto is being used for remittances, financial inclusion, and as a hedge against volatile fiat currencies.

Bitget’s recent moves

Bitget has also obtained Virtual Asset Service Provider licenses in Poland and Lithuania, facilitating its operations in European markets. The exchange recently re-entered the UK market through a partnership with Archax to comply with the Financial Conduct Authority’s promotional guidelines.

To enhance its presence in Latin America, Bitget plans to establish a dedicated team in El Salvador. This initiative aims to improve service delivery and foster stronger relationships with local users.