The native digital asset of Bitget, BGB, rose another 15% in the last 24 hours.
All due to the new crypto license the platform obtained in El Salvador.
Cryptocurrency
exchange Bitget has secured a Bitcoin Service Provider (BSP) license from El
Salvador's Central Reserve Bank, positioning itself for growth in Latin
America's burgeoning crypto market.
In response
to this news, BGB, the platform’s native token, rose by 15% over the past 24
hours, more than doubling its value this month.
Bitget Obtains El Salvador
Bitcoin License
The
regulatory approval allows Bitget to offer comprehensive Bitcoin services,
including exchange operations, payment facilitation, and custody solutions in
El Salvador, the first country to adopt Bitcoin as legal tender. The company is
also pursuing a Digital Assets Service Provider (DASP) license to expand its
cryptocurrency offerings beyond Bitcoin.
Min Lin, Chief Business Officer at Bitget
“Securing
the BSP license is a regulatory milestone for Bitget,” said Min Lin, Chief
Business Officer at Bitget. “We’re here to fuel the region’s growth by
providing secure, accessible, and innovative Bitcoin services. As the world’s
interest in crypto accelerates, we see El Salvador as a gateway to unlocking
crypto’s potential, enabling financial
inclusion, and driving transformative change in real world use-cases.”
The
exchange plans to establish a dedicated team in El Salvador to strengthen its
regional presence and enhance service delivery. This expansion follows Bitget's
recent regulatory approvals in European markets, including VASP licenses in
Poland and Lithuania, and its recent re-entry into the UK market through a
partnership with Archax.
BGB Reaches New ATH
The news
has catalyzed significant growth in Bitget's native token, BGB, which has
surged 120% in December alone. The token jumped 11% on Monday and added another
4% following the license announcement, approaching a new all-time high (ATH) of
$3.50.
BGB test news ATH. Source: TradingView
Of course,
the recent move in Bitcoin, which also tested its all-time high, is a
significant factor. During Monday’s session, BTC briefly climbed near $108,000,
reacting positively to the Trump administration’s statements about making
cryptocurrency part of the country’s strategic reserves.
While
Bitcoin has gained 10% this December, BGB has surged by 120%, now ranking among
the 30 largest cryptocurrencies by market capitalization at $5 billion. BGB,
introduced in February 2022, is a relatively new token. As the native utility
token of the Bitget exchange, it provides users with fee discounts, access to
additional features such as copy trading, and more favorable staking terms.
El Salvador President’s $633M
Bitcoin Celebration
El Salvador
may not be the largest or wealthiest country in the world, but it was the first
to try supporting its strained budget by making BTC legal tender. Although it
seems that no one is more enthusiastic about the idea than its creator,
President Nayib Bukele, the country’s treasury has continued to invest in BTC.
For comparison, just a year
ago, the same portfolio was worth $200 million less.
Cryptocurrency
exchange Bitget has secured a Bitcoin Service Provider (BSP) license from El
Salvador's Central Reserve Bank, positioning itself for growth in Latin
America's burgeoning crypto market.
In response
to this news, BGB, the platform’s native token, rose by 15% over the past 24
hours, more than doubling its value this month.
Bitget Obtains El Salvador
Bitcoin License
The
regulatory approval allows Bitget to offer comprehensive Bitcoin services,
including exchange operations, payment facilitation, and custody solutions in
El Salvador, the first country to adopt Bitcoin as legal tender. The company is
also pursuing a Digital Assets Service Provider (DASP) license to expand its
cryptocurrency offerings beyond Bitcoin.
Min Lin, Chief Business Officer at Bitget
“Securing
the BSP license is a regulatory milestone for Bitget,” said Min Lin, Chief
Business Officer at Bitget. “We’re here to fuel the region’s growth by
providing secure, accessible, and innovative Bitcoin services. As the world’s
interest in crypto accelerates, we see El Salvador as a gateway to unlocking
crypto’s potential, enabling financial
inclusion, and driving transformative change in real world use-cases.”
The
exchange plans to establish a dedicated team in El Salvador to strengthen its
regional presence and enhance service delivery. This expansion follows Bitget's
recent regulatory approvals in European markets, including VASP licenses in
Poland and Lithuania, and its recent re-entry into the UK market through a
partnership with Archax.
BGB Reaches New ATH
The news
has catalyzed significant growth in Bitget's native token, BGB, which has
surged 120% in December alone. The token jumped 11% on Monday and added another
4% following the license announcement, approaching a new all-time high (ATH) of
$3.50.
BGB test news ATH. Source: TradingView
Of course,
the recent move in Bitcoin, which also tested its all-time high, is a
significant factor. During Monday’s session, BTC briefly climbed near $108,000,
reacting positively to the Trump administration’s statements about making
cryptocurrency part of the country’s strategic reserves.
While
Bitcoin has gained 10% this December, BGB has surged by 120%, now ranking among
the 30 largest cryptocurrencies by market capitalization at $5 billion. BGB,
introduced in February 2022, is a relatively new token. As the native utility
token of the Bitget exchange, it provides users with fee discounts, access to
additional features such as copy trading, and more favorable staking terms.
El Salvador President’s $633M
Bitcoin Celebration
El Salvador
may not be the largest or wealthiest country in the world, but it was the first
to try supporting its strained budget by making BTC legal tender. Although it
seems that no one is more enthusiastic about the idea than its creator,
President Nayib Bukele, the country’s treasury has continued to invest in BTC.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
FCA Seeks Feedback on Crypto Admissions and Disclosures Regime
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What assets, products, and tools are shaping the retail trading landscape in 2025? In this insightful interview, Stephen, Global Director of Research at ForexBrokers.com, shares key trends and innovations driving the evolution of retail #investing. From advanced #educational tools to multi-asset trading strategies, this conversation covers the future of products, platforms, and regulation.
#fmls #fmls24 #fmevents #RetailTrading #FintechInnovation
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How does #crypto volatility, global expansion, and market trends shape the future of online trading? In this exclusive interview, Thomas Zabo, CEO of Pepperstone, dives deep into the industry’s hottest opportunities and challenges. From the surprising lack of crypto adoption among brokers to the strategic decisions shaping 2025, this discussion is packed with actionable insights for trading professionals.
#fmls #fmls24 #fmevents #cyptotrading #DigitalAssets #pepperstone
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How does #crypto volatility, global expansion, and market trends shape the future of online trading? In this exclusive interview, Thomas Zabo, CEO of Pepperstone, dives deep into the industry’s hottest opportunities and challenges. From the surprising lack of crypto adoption among brokers to the strategic decisions shaping 2025, this discussion is packed with actionable insights for trading professionals.
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FMLS:24 panel on "Swimming Naked? Liquidity Amid Market Hiccups"
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Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
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