Tether has announced plans to transfer its services after obtaining a Digital Asset Service Provider (DASP) license.
USDT issuer Tether joins Bitfinex Derivatives in moving operations to El Salvador.
The USDT issuer announced on January 13, 2025, that Tether is moving towards establishing a new headquarters in El Salvador.
According to details shared in a blog post, the transfer of services follows the acquisition of Digital Asset Service Provider (DASP) registration in the cryptocurrency-friendly country. The Tether entity is incorporated in the British Virgin Islands.
The stablecoin giant recently obtained a digital asset service provider license in El Salvador, which will be the first country to adopt Bitcoin as legal tender in 2021.
Tether ♥️ 🇸🇻
We are very excited that Tether Group is moving to El Salvador.
El Salvador is a beacon of freedom, and @nayibbukele is an inspiring leader who propels our country forward with love, passion, and intelligence.Segimos 🦾 https://t.co/42Y83ryEaE
— Paolo Ardoino🤖🍐 (@paoloardoino) January 13, 2025
Stablecoin giant moves to new base
Tether is establishing a network for the digital asset in El Salvador, which has Bitcoin-friendly policies. The company also aims to leverage Bitcoin as a fiat currency and lead the adoption of stablecoins in emerging markets.
The country is opening up for business in the digital finance sector by offering digital asset-friendly policies and growing a digital asset-free community. To encourage the adoption of Bitcoin, the country aims to create a policy that would require businesses to accept Bitcoin as legal tender.
Tether, a global stablecoin issuer with a market capitalization of $137 billion, said its plans to relocate to El Salvador are consistent with its goal of leveraging Bitcoin adoption to support financial inclusion. Ta. By establishing networks in digital asset-friendly countries, the company aims to align with the country’s regulatory policies while focusing on emerging markets.
“El Salvador is a pioneer in innovation in the field of digital assets. By planting roots here, we are not only working with countries that share our vision in terms of economic freedom, innovation and resilience. , it strengthens our commitment to empowering people around the world through decentralized technology,” said Paolo Ardoino, CEO of Tether.
Tether will join Bitfinex Derivatives, which also announced that it will relocate its operational headquarters to El Salvador after obtaining a digital asset service provider license. El Salvador is increasingly attracting attention as a digital asset business destination for global Bitcoin businesses, exchanges, and corporations.
