2023-06-19 02:12:43
The government of Nayib Bukele in El Salvador, the first country in the world to adopt Bitcoin (BTC), authorized the operations in the Central American country of a new platform with which you can buy and sell cryptocurrencies and other traditional assets.
The platform is called Structure.fi, and it is a broker con which users can invest, earn interest, borrow and lend traditional and digital financial assets.
The tool was launched in 2020 and, according to a statement, they have more than 6 billion users. It also executes transactions, and allows you to send and receive payments in various tokens.all within one application.
Something that stands out from Structure.fi is that the assets that users access on the platform have individual physical support, which would be guarded by that company. Although they do not clarify where or how.
In fact, this platform is centralized. CriptoNoticias was able to verify that to open an account it is necessary to meet the identification requirements. This, despite the fact that on their website they define themselves as related to decentralized finance (DeFi).
As reported in a press release sent to the editorial staff of CriptoNoticias, the choice of El Salvador for the start of operations is due to the fact that the authorities of that country are “committed” to the development and implementation of new tools, such as Bryan Hernández, CEO and co-founder of Structure.fi, said.
They further reported that plan to expand their operations to Mexico, Nigeria and India, giving people accessibility to new portfolios and financial tools. They argue that many of these products “were only reserved for a small group of investors with high purchasing power.”
Sponsored by the Salvadoran government
The centralized platform came into operation on August 11 under the auspices of the Salvadoran State.
Cristian Flores, Presidential Commissioner for Strategic Projects, affirmed that the arrival of this company in El Salvador opens opportunities for more investors venture into the country’s Bitcoin ecosystem.
Statistics from the Central Reserve Bank (BCR) indicate that, to date, more than 50 companies providing services related to cryptocurrency have been registered in that country.
“We are very pleased to see how new companies like Structure.fi are coming to the country to be able to provide services and tools that allow more investors to have access to new possibilities to venture with their capital in El Salvador,” said Flores.
The official also defended the Ley Bitcoinapproved last year, stating that it has allowed “opening opportunities for Salvadorans.”
On Twitter, the official noted that with the arrival of Structure.fi, “El Salvador is now the global headquarters of financial innovation.”
“In addition to being regional benchmarks in security and economic growth, we are in the eye of world investors by implementing innovative and cutting-edge tools,” said Flores.
Source: Cryptocurrencies
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