Tether Relocates Headquarters To El Salvador
Tether declared that it would relocate the business and its subsidiaries to El Salvador after obtaining an operating license in the Latin American country. Tether announced in a notice dated January 13 that it obtained a license to function as a stablecoin issuer and provider of digital asset services in El Salvador.
Tether CEO Paolo Ardoino stated, “This decision is a natural progression for Tether as it allows us to build a new home, foster collaboration, and strengthen our focus on emerging markets.”.
The business stated that El Salvador’s “forward-thinking policies and favorable regulatory environment were reasons it intended to move its headquarters and subsidiaries there. Ardoino and Claudia Lagorio, the chief operating officer of Tether reportedly purchased real estate and obtained naturalization in the Latin American country in 2024.
Many in the cryptocurrency industry have established connections with local companies or the government since El Salvador President Nayib Bukele declared his goal to have Bitcoin become legal tender in the country in 2021.
Tether declared funding for a proposed renewable energy project in El Salvador that included geothermal facilities.
Ardoino seemed to have met or spoken with Bukele on multiple occasions posting messages on social media that echoed the Salvadoran President’s calls to attract new businesses and residents,.
Many have praised the Salvadoran president, who once called himself the “world’s coolest dictator,” for his role in lowering the country’s murder rate since he took office in 2019 and was reelected in 2024.
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