The Companies That Have Already Obtained DASP Licenses
The CNAD public registry includes a growing list of licensed DASPs. Several major industry names have made their El Salvador licensing public:
B2BINPAY
B2BINPAY — one of the world's leading crypto payment processors for businesses — obtained its DASP license from CNAD in November 2025 under reference CNAD-047-2025. The license authorizes regulated digital asset operations including asset transfers, custody, and fiat-to-crypto exchange. It was B2BINPAY's second El Salvador authorization, following an earlier approval for Bitcoin exchange and wallet operations. CEO Arthur Azizov described the licensing as central to the company's commitment to transparency and regulatory compliance in Latin America.
Binance and Tether
Industry giants Binance and Tether both hold DASP authorization in El Salvador — a significant credibility signal for the jurisdiction. The presence of Tether — the issuer of USDT, the world's largest stablecoin — on the CNAD registry reflects the regulatory framework's ability to accommodate both large-scale infrastructure players and smaller operators under the same licensing framework.
Freedx
Freedx — a centralized exchange targeting both new and experienced crypto traders, headquartered in Dubai — secured its DASP license from CNAD in April 2025. CNAD President Juan Carlos Reyes specifically noted the team's preparation as exemplary, describing Freedx as exactly what CNAD is looking for in license applicants. Freedx's CEO Jonathan Farnell described El Salvador as "a beacon in the crypto space setting the standard for countries looking to undergo a digital and technological revolution."
Finprime.pro
Finprime.pro (Digital Trading Group of Central America S.A. de C.V.) — a crypto broker focused on secure, transparent digital asset access — received its DASP license from CNAD in October 2025, in addition to its previously issued Bitcoin provider license. The company noted that the DASP license places it in the same regulatory framework as Binance, Bitfinex, and Tether.
Market Perception — How the Industry Is Reading the El Salvador DASP
The pattern of licensees is telling. B2BINPAY is a B2B payment infrastructure provider. Freedx is a retail exchange targeting emerging markets. Finprime.pro is a crypto broker. Tether is a stablecoin issuer. None of these are EU-licensed MiCA operators or US-registered entities. The El Salvador DASP is attracting a specific profile — international crypto businesses that operate in regulated environments but do not need EU passporting or US registration, and who want credible regulatory standing at a cost that makes commercial sense.
CNAD has been deliberately selective. The DASP license is widely described in industry commentary as having a low application success rate — not because the government is restrictive, but because CNAD requires genuine operational readiness before granting a license. Policy gaps, compliance inconsistencies, or an unclear service perimeter will halt an application. This selectivity is actually commercially valuable — it means being on the CNAD registry carries weight with banking partners, payment processors, and institutional counterparties who need to see regulatory credibility.
The 2025 Bitcoin Law amendment — making Bitcoin acceptance voluntary rather than mandatory — has had less impact on the DASP framework than some expected. The DASP license under LEAD 2023 is separate from the Bitcoin Law, and CNAD's mandate covers all digital assets. If anything, the amendment reduced political controversy around El Salvador's crypto framework and made it easier for international businesses to engage with the jurisdiction without the reputational complexity of mandatory Bitcoin acceptance.
The Real Commercial Case: Why Non-EU and Non-US Crypto Operators Are Choosing El Salvador
The operators best positioned to benefit from the El Salvador DASP license share a common profile — and understanding that profile is the most honest way to assess whether it makes sense for a specific business.
LatAm-Focused Crypto Businesses
El Salvador sits at the center of the world's most active remittance corridor. Latin America receives over $150 billion in annual remittances — with Central America disproportionately dependent on these flows. For crypto businesses building remittance infrastructure, payment rails, or digital asset services targeting LatAm markets, operating from a USD-dollarized, Spanish-language, Bitcoin legal-tender jurisdiction provides natural alignment that no Caribbean or Pacific offshore jurisdiction can match.
Crypto Businesses That Don't Need EU Passporting
A Lithuanian EMI provides EU passporting. An El Salvador DASP does not. For businesses whose target markets are not the EU — LatAm, Africa, Asia, or markets where local regulatory acceptance matters more than EU equivalence — paying EUR 350,000 for an EMI when USD $2,000 capital achieves CNAD authorization is a capital allocation question that increasingly favors El Salvador.
Operators Exiting Gray Jurisdictions
Businesses currently operating from SVG, Seychelles, or other light-touch offshore structures who face increasing banking friction, PSP rejections, or merchant onboarding challenges are looking for a credible upgrade. The El Salvador DASP — with Binance and Tether on the same registry — provides a materially stronger credential than an SVG company registration.
Bitcoin and Lightning Network Native Products
El Salvador remains the only jurisdiction globally where Bitcoin is legal tender. For operators building Bitcoin-native products — Lightning Network payments, BTC remittance, Bitcoin savings products — there is no other jurisdiction that provides the same combination of regulatory framework, native infrastructure (Chivo Wallet, Strike), and legal certainty around Bitcoin as a commercial instrument.
B2B Crypto Infrastructure Providers
Payment processors, liquidity providers, custody infrastructure companies, and crypto-as-a-service businesses targeting LatAm clients benefit specifically from CNAD authorization. When a B2B crypto company is pitching to a Salvadoran neobank, a Mexican fintech, or a Colombian e-commerce platform, CNAD registration provides the regulatory standing that makes the commercial relationship possible.
Token Issuers and DeFi Operators
The LEAD 2023 framework explicitly covers token issuance, stablecoins, NFTs, and DeFi instruments — giving El Salvador one of the most comprehensive digital asset regulatory frameworks in the Americas. Operators building tokenized products for LatAm markets have few better regulatory homes than CNAD, where the framework was built specifically for the full spectrum of digital asset activities.
What El Salvador Is Not — Honest Limitations
The banking situation deserves honest acknowledgment. Local Salvadoran banks remain cautious toward registered DASPs — the enhanced due diligence applied to licensed entities makes account opening significantly more difficult after CNAD registration than before. This is one of the most consistently flagged operational challenges by licensed operators. The practical solution is establishing banking before registration — but it requires careful sequencing and the right institutional introductions. International crypto-friendly EMIs and offshore banks provide the ongoing banking infrastructure for most El Salvador DASPs.
El Salvador's domestic market is approximately 6.5 million people. The DASP license is not a domestic market play — it is a base for international operations. Companies expecting significant revenue from Salvadoran clients will be disappointed. The jurisdiction's value is as an operational and regulatory base for businesses whose clients, revenue, and operations are primarily outside El Salvador.
No passporting. Recent CNAD reforms explicitly prohibit passporting the DASP license to other jurisdictions — the authorization is valid for operations in and from El Salvador. For operators who need EU, UK, or other regulated market access, separate authorization in those jurisdictions remains necessary. The El Salvador DASP works best as part of a multi-jurisdiction structure — as the base for emerging market operations, alongside an EU EMI or MiCA CASP for European market access.
Zitadelle AG's Assessment — Who Should Apply in 2026
The El Salvador DASP has matured from an experimental jurisdiction into a credible tier-2 crypto licensing option — below EU MiCA and UAE VARA in institutional recognition, but above most offshore alternatives in regulatory substance. The presence of Binance, Tether, B2BINPAY, and Freedx on the CNAD registry has done more for the license's credibility than any government announcement could.
The operators who benefit most are those building for non-EU, non-US markets — LatAm remittance, emerging market payments, Bitcoin-native products, and B2B crypto infrastructure for Latin American clients. For these businesses, the combination of 0% corporate tax, USD $2,000 minimum capital, CNAD regulatory standing, and Bitcoin legal-tender infrastructure creates a commercial proposition that no other jurisdiction currently matches.
For operators who need EU passporting or who are building for European retail markets — a Lithuanian EMI or Cyprus MiCA CASP remains the correct primary structure. The El Salvador DASP and an EU authorization are not mutually exclusive — many operators are building both.
Key Requirements at a Glance
For those evaluating the license, the core requirements are:
| Requirement | Detail |
|---|---|
| Corporate structure | Local Salvadoran entity (S.A. de C.V. or SAS) |
| Min. capital | USD $2,000 (S.A. de C.V.) / USD $1 (SAS) |
| CNAD government fee | USD $5,475 (one-time) |
| Annual CNAD fee | USD $3,650 |
| Compliance officers | 2 required (min. 1 locally based, FIU registered) |
| Legal representative | Must be resident in El Salvador |
| Bank account | Must be opened before CNAD registration |
| BCR registration | Mandatory prerequisite for DASP |
| Corporate tax | 0% on digital asset activities |
| Capital gains tax | 0% |
| VAT on crypto | 0% (exempt) |
| Processing time | 3–6 months |
Considering the El Salvador DASP License?
Zitadelle AG manages the full DASP licensing process — company formation, bank account opening (before registration), BCR pre-registration, CNAD application, compliance policy suite, and FIU registration.
View our El Salvador DASP License service page →Frequently Asked Questions
B2BINPAY (CNAD-047-2025), Binance, Tether, Freedx, and Finprime.pro are among the publicly confirmed DASP license holders. The CNAD maintains a public registry of all authorized Digital Asset Service Providers at cnad.gob.sv.