Tether Moves Global Headquarters To Bitcoin-Friendly El Salvador

By: Eliza Bennet

Tether, the leading issuer of the stablecoin USDT, has announced plans to relocate its global headquarters to El Salvador. This move follows Tether obtaining a Digital Asset Service Provider (DASP) license in the Central American country. El Salvador, under the leadership of President Nayib Bukele, has distinguished itself as a stronghold for digital asset innovation by becoming the first country to adopt Bitcoin as legal tender. For Tether, this aligns perfectly with its mission to enhance financial inclusion through digital currencies.

The decision to move to El Salvador was driven by the country's supportive approach towards blockchain and cryptocurrency. President Bukele's forward-looking policies have created a regulatory environment conducive to blockchain technology and crypto enterprises. This is particularly important for Tether's goals of supporting underserved regions and encouraging financial innovation in markets often left behind by traditional finance systems.

Paolo Ardoino, Tether's CEO, emphasized that this decision reflects Tether's firm belief in El Salvador's potential to lead the digital finance revolution. By relocating, Tether aims to leverage El Salvador's infrastructure to explore emerging technologies while collaborating within a supportive business ecosystem. Ardoino noted, "By rooting ourselves here, we are not only aligning with a country that shares our vision in terms of financial freedom, innovation, and resilience but is also reinforcing our commitment to empowering people worldwide through decentralized technologies."

Tether's move is seen as an endorsement of President Bukele's leadership, which has consistently been praised by Ardoino. Over the past year, Ardoino has lauded the transformational changes taking place in El Salvador under Bukele, particularly the country's economic revitalization and the embrace of Bitcoin.