Tether, the world’s largest stablecoin issuer, is moving its operations to El Salvador after securing a Digital Asset Service Provider (DASP) license. The company will set up its headquarters in the country, which is widely recognized for its forward-thinking Bitcoin policies.
Why El Salvador?
El Salvador was the first country to embrace Bitcoin as legal tender, creating a crypto-friendly regulatory environment and fostering a vibrant Bitcoin-savvy community. This move aligns perfectly with Tether’s mission to drive global Bitcoin adoption while establishing itself in one of the most innovative crypto markets in the world.
Expanding to emerging markets
By relocating to El Salvador, Tether is positioning itself to tap into emerging markets and contribute to reshaping financial systems globally. The company sees this move as a strategic way to collaborate with like-minded innovators and advance the vision of financial freedom through cryptocurrency.
Strengthening existing ties
Tether’s relationship with El Salvador isn’t new. The company has already partnered with the nation on notable initiatives, including a citizenship program tied to Bitcoin investments and a $1 billion Bitcoin mining project powered by volcanic energy. With this relocation, Tether reaffirms its commitment to innovation and its role in the future of cryptocurrency.