- Tether announces its service relocation plans after acquiring a Digital Asset Service Provider (DASP) license.
- USDT issuer Tether joins Bitfinex Derivatives in moving operations to El Salvador.
Tether is on its way to establishing new headquarters in El Salvador, the USDT issuer announced on Jan. 13, 2025.
According to details shared in a blog post , the relocation of services follows the acquisition of a Digital Asset Service Provider (DASP) registration in the crypto-friendly country. Tether’s entities have been incorporated in the British Virgin Islands.
The stablecoin giant recently acquired the Digital Asset Service Provider licence in El Salvador, the first country to adopt bitcoin as a legal tender in 2021.
Tether ♥️ 🇸🇻
Very excited for Tether group relocating in El Salvador.
El Salvador is the beacon of freedom and @nayibbukele is an inspiring leader driving the country with love, passion and intelligence.Seguimos 🦾 https://t.co/42Y83ryEaE
— Paolo Ardoino 🤖🍐 (@paoloardoino) January 13, 2025
Stablecoin giant moves to new home
Tether seeks to establish networks in digital assets in El Salvador which has Bitcoin friendly policies. The company further seeks to leverage bitcoin as a legal tender and spearhead the adoption of stablecoin on emerging markets.
The country opens up to business in the digital finance space by providing digital assets friendly policies as well as growing a digital asset liberated community. To enhance bitcoin adoption, the country seeks to formulate a policy requiring businesses to accept bitcoin as a legal tender.
Tether, the issuer of the global stablecoin with a market cap of $137 billion, said its plans to relocate to El Salvador aligns with the company’s goal to support financial inclusion by leveraging bitcoin adoption. By establishing networks in the digital assets friendly country, the company aims to align with the country’s regulatory policies while focusing on emerging markets.
“El Salvador represents a beacon of innovation in the digital assets space. 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 chief executive officer Paolo Ardoino said.
Tether joins Bitfinex Derivatives which also announced moving its operation headquarters to El Salvador after it acquired its Digital Asset Service Provider licence. El Salvador has increasingly become a digital assets business destination for global bitcoin businesses, exchanges, and companies.
