- Binance secures dual licenses as the first fully licensed crypto exchange in El Salvador.
- Binance CEO shares picture with El Salvador’s president exchanging handshakes.
- Binance now holds 18 market approvals worldwide.
In a recent statement, Binance proudly unveiled its latest accomplishment: becoming the first fully licensed crypto exchange in the pro-Bitcoin country, El Salvador.
The accolade came in the form of two significant licenses. The first is the Bitcoin Services Provider license (BSP) from the Central Reserve Bank (Banco Central de Reserva). And the second is the pioneering non-provisional Digital Assets Services Provider license (DASP) from the National Commission of Digital Assets.
The CEO of Binance, Changpeng Zhao, took to Twitter to share the development. He posted a picture of himself with Nayib Bukele, the president of El Salvador, exchanging handshakes.
In the press statement, Binance expressed that the achievement is another testament to its ongoing dedication to securing local licenses and regulatory permissions across pivotal global markets.
With this milestone, the company now holds approvals and registrations in 18 markets worldwide. As Coin Edition reported two weeks ago, Binance became the first recipient of an operating license from Dubai’s Virtual Asset Regulatory Authority. The exchange claims to surpass all other contenders in the crypto exchange arena in terms of regulatory approvals.
Min Lin, Binance’s Head of Latin America, expressed the company’s profound gratitude for the granted license. He emphasized Binance’s collaborative efforts with regulatory bodies on a global scale to uphold industry standards within the crypto and blockchain realm.
Lin acknowledged the tireless commitment exhibited by Binance’s team over several months, involving rigorous due diligence. In his words:
This announcement comes after many months of dedication from our team to provide all information and proceed with the necessary due diligence required by the agencies.
Notably, El Salvador holds the title of being the first country in the world to recognise Bitcoin as legal tender, which it did in 2021.
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