The Central Reserve Bank of El Salvador (BCR) has granted a Bitcoin Service Provider (BSP) license to Swapido SAS de CV, which operates as Aureo, according to the Mexican company.
This license authorizes entities to operate Bitcoin (BTC) exchange and custody services under El Salvador’s regulatory framework. therefore, Central American country joins Aureo as base of operationsand complies with applicable regulations in its country of origin, Mexico.
“El Salvador combines regulatory clarity and regional reach, making it a strategic location for building Bitcoin financial services with a focus on Latin America,” the company said in an announcement.
He claimed that El Salvador is one of the most Bitcoin-friendly regions in the world. “We believe that its regulatory framework will be a model for the region,” he added.
As reported by CriptoNoticias, these comments come as El Salvador expands its cooperation with other Latin American countries on regulating the cryptocurrency ecosystem.
As a next step, Aureo plans to apply for a Digital Asset Service Provider (DASP) license in El Salvador before the National Commission for Digital Assets (CNAD). Enable additional featuresincluding services using stablecoins.
Additionally, we hope to launch exchange and custody services for individuals, private customers, and businesses in El Salvador, integrating with the local banking system. Hire Salvadoran talent.
The announcement comes just five days after the company announced it had raised $1.1 million in a pre-seed round to build Latin America’s first multi-institutional custody (MIC) solution and support the growth and expansion of other Bitcoin-based financial services.