Tether, the world’s largest stablecoin issuer, has announced plans to move all of its operations to El Salvador. The move comes after successfully obtaining a Digital Asset Service Provider (DASP) license
In an official blog post, Tether explained that the decision is in line with its strategy to focus on emerging markets and innovation. The move strengthens its presence in El Salvador, a country known for its progressive stance on digital assets and the first country to accept Bitcoin as its official currency.
“This decision is a natural progression for Tether as it allows us to build a new home, enhance collaboration, and strengthen our focus on emerging markets,” said Tether CEO Paolo Ardoino. “El Salvador represents a beacon of innovation in the digital asset space. By rooting ourselves here, we not only align with a country that shares our vision for financial freedom, innovation, and flexibility, but also reinforce our commitment to empowering people around the world through decentralized technologies.”
The company stated that it is committed to harnessing the transformative potential of Bitcoin and driving growth in dynamic, innovation-driven environments.
*This is not investment advice.