El Salvador Makes Binance Its First Licensed Crypto Operator

Binance has received two crypto licenses to operate in El Salvador, solidifying its presence in 18 markets.

Nayib Bukele and Changpeng Zhao shaking hands surrounded by balloons, coins and confetti.
Created by Gabor Kovacs from DailyCoin
  • Binance can now operate legally in El Salvador.
  • The exchange received licenses from the country’s authorities.
  • The company continues to expand its operations to new markets.

Binance has received two crypto licenses from the Banco Central de Reserva and the Comisión Nacional de Activos Digitales, granting the company approval to operate in El Salvador.

In an announcement on August 8, 2023, the crypto exchange confirmed being granted both a Bitcoin Services Provider (BSP) license and the first of its kind non-provisional Digital Assets Services Provider (DASP) license.


These licenses allow Binance to expand the products and services offered, including options tailored to the needs of our customers in El Salvador,” said Daniel Acosta, Binance’s General Manager for Colombia, Central America, and the Caribbean.

Crypto Is on a Roll in El Salvador

The event culminated following the approval of the Volcano Bitcoin Bond Bill by the Legislative Assembly of El Salvador on January 11, 2023. The bill provides a legal framework for issuing and transferring digital assets. The bill also provides provisions for regulating the requirements and obligations of digital asset issuers, service providers, and any other public offering participants.

El Salvador became the first country to approve Bitcoin as a legal tender on September 7th, 2021. The country even went ahead to issue Bitcoin airdrops to incentivize its citizens to adopt BTC as a mode of payment.  

Binance’s Strategic Expansion into New Markets

Binance is the world’s largest crypto exchange in terms of trading volumes. Securing the El Salvador license is a strategic move for Binance, solidifying its presence as a licensed crypto exchange across 18 jurisdictions, including Dubai, France, Italy, Poland, Lithuania, and Sweden.


Other markets where the crypto exchange operates with legal approval include Kazakhstan, New Zealand, Bahrain, Australia, Indonesia, Japan, Thailand, Mexico, and South Africa.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.