Connect with us

World

Bitfinex Secures El Salvador’s First-Ever Digital Asset License

Published

on

Bitfinex

By Adedapo Adesanya

Bitfinex has become the world’s first international digital asset platform to receive a license as a Digital Asset Service Provider in El Salvador.

Under El Salvador’s ground-breaking new Digital Assets Issuance Law (Ley de Emisión de Activos Digitales), Bitfinex Securities El Salvador S.A. de C.V. (Bitfinex Securities El Salvador), a fully-regulated digital asset exchange will be able to issue and trade innovative real-world tokenized assets such as equities and bonds.

Bitfinex said the new license marks a significant new milestone in its long-term strategy to deliver financial freedom and inclusion to communities and countries around the world, as outlined in the Bitfinex Freedom Manifesto.

“We are delighted to be the first company to be awarded this license. It will enable Bitfinex Securities to facilitate the issuance and secondary trading of assets with clearly defined rights and obligations as outlined in the new digital asset regulatory regime”, said Mr Paolo Ardoino, Chief Technology Officer of the Bitfinex group.

“It means that a whole range of entities, from small companies to governments, can raise capital in a regulated environment and tap into a class of investors that are extremely comfortable with crypto assets and tokenized securities, which represents a market of over $1 trillion with a peak of $3 trillion.”

Passed by El Salvador’s National Congress in January 2023, the Digital Asset Issuance Law aims to foster increased financial innovation and growth in the Central American country.

As the world’s first nation to adopt Bitcoin as legal tender in 2021, El Salvador is now building on this foundation, paving the way for a more inclusive and accessible financial environment for both foreign and domestic companies, as well as retail and institutional investors.

“We see considerable demand both from issuers and investors for the products made possible under the new regulations, which include tokenized shares, yield-bearing assets, and other investment products,” said Mr Jesse Knutson, Head of Operations at Bitfinex Securities.

“Issuers are eager to access the digital asset market, attracted by the speed, cost efficiencies, and ease of issuance compared to traditional assets. The digital asset market is a market which, at over $1 trillion in size, is still in its infancy but is growing tremendously quickly.”

Bitfinex said companies from around the world would be able to issue a broad range of digital assets, including equities, bonds and other financial instruments via a newly-formed entity in El Salvador called Bitfinex Securities El Salvador, S.A. De C.V., ensuring full regulatory compliance under El Salvador law.

The development also presents a unique opportunity for both businesses and individuals to capitalise on the benefits of issuing, investing, and trading in digital assets in El Salvador’s favourable regulatory environment and to capture high cost and efficiency advantages compared to the process of raising capital in traditional finance.

Bitfinex Securities El Salvador will operate separately from the Bitfinex group’s existing platform, Bitfinex Securities AIFC, operated by Bitfinex Securities Limited. Established in 2021, Bitfinex Securities AIFC is a 365/24/7, digital asset platform operating within the regulatory sandbox established by the Astana International Financial Center, which allows previously-underserved companies – and potentially entire countries – to access new sources of funding while widening investor access to a host of innovative financial products, including blockchain-based equities and bonds.

Earlier this year, Bitfinex Securities AIFC announced a major milestone in terms of its expanding global presence with the opening of a new hub in Kazakhstan, another country that has attracted considerable global interest in recent years due to its forward-thinking approach to regulation.

This also provides a major boost to the Bitfinex group’s continuous efforts to promote financial freedom and inclusion in El Salvador and beyond, offering not only large corporations but also smaller, otherwise-marginalised companies, as well as retail investors, the opportunity to participate in global markets.

The development also highlights once again El Salvador’s rapid transformation to become a regional and global hub for high-tech financial innovation, creating an attractive environment for businesses to relocate to from around the world.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

World

Dangote to Invest $1bn in Cement, Power Plants, Fuel Pipeline in Zimbabwe

Published

on

dangote zimbabwe

By Adedapo Adesanya

Nigerian businessman, Mr Aliko Dangote, has finalised plans to invest as much as $1 billion in Zimbabwe. This would be used to build cement and power plants as well as a fuel pipeline in the country.

The industrialist disclosed this during a meeting with the President of Zimbabwe, Mr Emmerson Mnangagwa, in Harare on Wednesday.

Mr Dangote had previously expressed interest in investing in Zimbabwe in 2015 but the deals stalled.

The Nigerian, who operates cement companies in 10 countries, planned to build a $400 million cement plant with processing capacity of 1.5 million tons a year. The deal, along with others proposed at the time, failed to materialize after talks with then-President Robert Mugabe.

Now, with the green light from the late president’s predecessor, Mr Dangote is adding Zimbabwe to his list of investment destinations, which span several countries across the continent from Ethiopia to Zambia.

Speaking to reporters on Wednesday, Mr Dangote lauded the Zimbabwe leader for turning “the economy around,” adding, “That really gave us the confidence that this is the right time for us to come and invest.”

Mr Dangote has diversified interests in cement, sugar, fertiliser, oil and gas, and other sectors. He has a net worth of $29.8 billion, according to the latest Bloomberg Billionaires Index.

According to reports, details around mining concessions, tax incentives, and investment guarantees, we’re discussed between the tycoon and the Zimbabwean leader.

The deal, which has been in the works for several months, picked up pace during the Afreximbank annual meetings held in Abuja in June.

In June, both sides managed to resolve key sticking points and outline the next steps toward implementation.

Harare-based Bard Santner Markets Incorporated facilitated the negotiations, led by CEO Senziwani Sikhosana and investment facilitator Josephine Mahachi.

On the government side, presidential investment adviser, Mr Paul Tungwarara was credited with steering the process, ensuring that all policy and regulatory approvals stay on track.

Dangote Cement Plc is Africa’s largest cement producer and has production capacity of over 50 million tonnes annually across multiple countries.

Continue Reading

World

Medar Boquete Becomes First Congolese to Receive Pushkin Medal

Published

on

Medar Boquete Pushkin Medal

By Kestér Kenn Klomegâh

November 2025, will go down in history as a significant date for the Democratic Republic of the Congo and the Free University of Kinshasa (ULK). During the official ceremony presenting state awards and prizes of the President of the Russian Federation in the Kremlin, Medar Bompoko Boquete, Chairman of the Executive Board of the Free University of Kinshasa (ULK), was awarded the Pushkin Medal, becoming the first Congolese to receive this prestigious award.

The Pushkin Medal, established in the Russian Federation, is one of the most renowned awards in the fields of culture, education, and the humanities. It is awarded to individuals who have made significant contributions to the development of cultural and educational ties with Russia, as well as to strengthening friendship and international cooperation. This award highlights the importance of academic, linguistic, and cultural exchanges in strengthening ties between Russia and African countries.

Medar Bompoko Boquete was recognized for his contribution to the promotion of the Russian language and culture at ULK, as well as for his active work in strengthening educational and cultural ties between the DR Congo and Russia. For several years, he has promoted student and faculty exchanges, scientific cooperation, and knowledge sharing between the countries, contributing to the international recognition of the DR Congo.

The ceremony, held as part of the National Unity Day celebrations, brought together distinguished Russian and international representatives. The awarding of the Pushkin Medal to an African scholar, and in particular the first Congolese, is a powerful symbol of intercultural dialogue and mutual respect between countries. It also demonstrates the key role of education and culture in strengthening diplomatic and social ties on the international stage.

Award Details:

Awardee: Medar Bompoko Boquete

Position: Chairman of the Executive Board, Free University of Kinshasa (ULK)

Award: Pushkin Medal

Reason for the Award: Contribution to strengthening cultural and educational unity and developing cultural ties between the DR Congo and Russia

Award Location: The Kremlin, Moscow, Russia

This official recognition from Russia is not only a personal honor for Medar Bompoko Boquete but also an important symbol for the DR Congo, demonstrating the country’s achievements in education, culture, and scientific cooperation. The award opens new opportunities for academic and cultural interaction between Congolese and Russian institutions and inspires future generations to develop similar initiatives.

The awarding of the Pushkin Medal to Medar Bompoko Boquete was a historic event in relations between the DR Congo and Russia and symbolizes the long-term strengthening of cultural and educational ties between the two countries.

Continue Reading

World

Amnesty International Calls for Internet Restoration as Crisis Grips Tanzania

Published

on

tanzania

By Adedapo Adesanya

Human rights group, Amnesty International, has called for restoration of internet services following shutdown by Tanzanian authorities following the country’s general elections on October 29.

Authorities imposed nationwide internet restrictions on election day disrupting mobile data services and blocking access to social media platforms across major networks.

The October 29 vote handed President Samia Suluhu Hassan a second term with over 97 per cent of the votes.

She was sworn in after the disputed polls on Monday. Protests have since rocked the East African country.

On Monday November 3, Tanzanians reported partial resumption in some cities, but this has impacted the country’s economy, disrupting bank operations and communication.

In a statement, Amnesty International’s Deputy Director for East and Southern Africa, Mr Vongai Chikwanda, called for the return of full internet services in the country.

“For close to a week now, many people in Tanzania have suffered nationwide internet and electricity shutdowns. Amnesty International is particularly alarmed by reports that amidst the blackouts, security forces have used excessive force to suppress and disperse ongoing post-election protests, resulting in the deaths and injuries of protesters.

“This is the third time in less than a year that Tanzanian authorities have resorted to an internet blockade to silence dissenting voices. Authorities must immediately refrain from suppressing protests and instead respect, protect, and facilitate the right to peaceful assembly. They must immediately and unconditionally release all those arrested solely for exercising their right to peaceful assembly.”

So far, over 700 people have been reportedly killed by post-election violence in the East African nation.

The group said Tanzanian authorities should “promptly, thoroughly, independently, impartially, transparently and effectively investigate all killings by security agents and bring to justice in fair trials those suspected of being responsible.”

“Authorities must also provide victims and their families with access to justice and effective remedies,” it added.

“The authorities must also allow both local and international media to freely report on the human rights situation in the country and refrain from restricting access to information, both online and offline including by immediately restoring internet access and access to basic public services. The ongoing restrictions are making it difficult to verify information, and to document election-related human rights violations.”

Continue Reading

Trending