Bitfinex Derivatives has announced plans to relocate its operations to El Salvador following the acquisition of a Digital Asset Service Providers (DASP) license. The company aims to support El Salvador's ambitions of becoming a financial services hub for Latin America. Paolo Ardoino, the CTO, highlighted this move as a significant milestone, noting El Salvador's proactive approach in establishing new crypto frameworks. The country has been implementing regulations designed to facilitate digital asset operations, enabling firms to tokenize various assets. Bitfinex's relocation comes on the heels of earlier licensing efforts, showing its commitment to expanding services in the region. Despite challenges in a previous investment initiative related to a Hilton hotel tokenization, the firm remains optimistic about the regulatory environment in El Salvador and its potential to attract investments and projects.

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