Tallinn, Estonia / San Salvador, El Salvador April 15, 2025 Gofaizen & Sherle, a prominent global firm specializing in fintech and crypto law, has reached a significant milestone in its ongoing expansion into Latin America. The company has adeptly guided multiple clients through the intricate and often challenging process of obtaining the coveted Digital Asset Service Provider (DASP) license in El Salvador. This Central American nation is rapidly establishing itself as a critical hub for regulated digital asset operations, becoming increasingly attractive for businesses in the cryptocurrency sector.

Currently, only 40 companies have been awarded the DASP license in El Salvador, and Gofaizen & Sherle is proud to report that it has successfully facilitated four licensing approvals for its clients. This achievement further strengthens the firms reputation as a trusted and knowledgeable partner within the constantly evolving regulatory landscape of the cryptocurrency industry.

El Salvador has emerged as a strategic jurisdiction for crypto enterprises seeking a progressive regulatory environment, stated Maxim Gasanbekov, Head of Sales Department at Gofaizen & Sherle. Securing a DASP license here is no small feat; it involves a rigorous process demanding extensive legal, financial, and compliance expertise. We take pride in the fact that four of the first 40 licensed companies in the country are among our esteemed clients.

A Comprehensive Licensing Strategy: What We Deliver

Gofaizen & Sherle is committed to ensuring that its clients fulfill all necessary regulatory, operational, and compliance requirements for securing a DASP license within El Salvador. The entire licensing process typically spans approximately 5 to 6 months and includes several essential steps:

  • Company Formation & Capital Structuring Establishing the legal entity and assisting clients with statutory capital contributions.
  • Regulatory Compliance & Documentation Crafting comprehensive Anti-Money Laundering (AML) and Know Your Customer (KYC) procedural rules (requiring over 20 hours of legal expertise), along with the formulation of key internal policies, such as:
    • Enterprise-Wide Risk Assessment & Business Continuity Policy
    • Information Security Policy
    • Compliance & Risk Management Policies
    • Safeguarding of Assets & Code of Ethics
  • Banking & Payment Infrastructure Opening operational accounts in local banks, with plans for expansion to European payment service providers to facilitate international transactions.
  • Regulatory Negotiations & Approvals Engaging directly with the National Commission for Digital Assets (NCDA) to meet all licensing requirements for Bitcoin (BTC) and DASP licenses.
  • AML & Risk Compliance Completing AML registration with the Financial Investigation Unit, ensuring full conformity with El Salvadors compliance frameworks.
  • Local Talent Acquisition Recruiting and onboarding qualified local compliance officers, as mandated by law.
  • Financial Oversight & Business Strategy Issuing corporate records through certified auditors and refining business plans to align with market conditions.

Unlocking New Business Opportunities in El Salvador

The companies that Gofaizen & Sherle has assisted in obtaining DASP licensing are involved in various pivotal sectors within the digital asset industry, such as:

  • Digital Asset Exchanges Facilitating both fiat-to-crypto and crypto-to-crypto transactions, utilizing proprietary and third-party capital.
  • Trading Platforms & Marketplaces Operating platforms for the exchange, commercialization, and trading of digital assets and derivatives.
  • Digital Asset Custody & Management Providing secure storage, transfer, and safeguarding of digital assets for institutional and retail clients.
  • Payment & Transaction Services Processing both cross-border and domestic digital asset transactions on behalf of third parties.

A Growing Hub for Crypto Innovation

El Salvadors progressive regulatory framework has established the country as an appealing destination for crypto businesses seeking not only stability but also operational security. With its global headquarters based in the EU and additional local offices in El Salvador, Gofaizen & Sherle continues to lead the charge in developing regulatory solutions for crypto companies around the world. The firm ensures an efficient licensing process, compliance, and market entry strategies tailored to the unique challenges of the crypto landscape.

For businesses eager to navigate the complexities of the El Salvadoran market, Gofaizen & Sherle provides comprehensive consultancy services designed to simplify the licensing process, thereby accelerating market expansion opportunities for their clients.

About Gofaizen & Sherle

Gofaizen & Sherle stands at the forefront of fintech and crypto law, with its headquarters located in Estonia and a robust global presence. The firm specializes in regulatory compliance, licensing, and business development for crypto and financial services firms. With profound expertise in EU regulations (including CASP licensing under MiCAR) and DASP licensing in El Salvador, Gofaizen & Sherle offers bespoke solutions aimed at helping businesses operate legally and efficiently in intricate regulatory environments.

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