Tether, the issuing company of the popular USDT stablecoin, reported that it plans to move the company’s headquarters and subsidiaries to El Salvador after having obtained permits to operate in the Central American nation.
In release Published on its official site this January 13, Tether announced the steps it plans to take, after obtaining the license as a Digital Asset Service Provider (DASP) and as a stablecoin issuer. A fact that, in his opinion, “marks a step on Tether’s path to promoting the global adoption of Bitcoin.”
With this in mind, the company explained the reasons that led it to move to El Salvador, considering its “cutting-edge policies, a favorable regulatory environment and a growing Bitcoin-savvy community.”
This strengthens the position of Tether in one of the most avant-garde markets in the world and encourages the development and implementation of cutting-edge solutions more efficiently in a dynamic environment where innovation thrives.
Tether.
“This decision is a natural evolution for Tether, allowing us to build a new home, foster collaboration and strengthen our focus on emerging markets,” said Paolo Ardoino, CEO of Tether.
The executive assures that the company not only supports El Salvador’s vision of financial freedomr, but also strengthens its operational agility and its capacity for innovation. “This move reflects Tether’s dedication to providing reliable, accessible and transparent financial solutions to its global user base.”
With this decision, Tether also expresses its willingness to promote the adoption of bitcoin (BTC) operating from Salvadoran territory, highlighting the characteristics of El Salvador’s economy, which prioritizes the digital currency. A situation that “aligns perfectly with Tether’s mission to empower people and businesses through digital currency.”
Hence the intention to collaborate with the government of Nayib Bukeleaccording to expressed it Ardoino in a post by X.
“By establishing ourselves in El Salvador, we not only align ourselves with a country that shares our vision in terms of financial freedom, innovation and resilience, but we also reinforce our commitment to empowering people around the world through decentralized technologies,” Tether states in its statement.
With this decision it follows in the footsteps of its subsidiary company Bitfinex, which offers cryptocurrency options and derivatives exchange services and which also obtained licenses to operate in El Salvador. Last week it announced its intention to move its headquarters from Seychelles to the Central American nation.
It is worth adding that the information about the move of Tether and its subsidiaries is given in full process of change of government in the United Stateswhere there are just a few days left until Donald Trump takes office for his second term.
This is a scenario that has made many analysts think about the repercussions of the Trump-Tether combination, anticipating that this may cause problems.
As CriptoNoticias reported, in November 2024 it was learned that the incoming Trump government held meetings with Tether. Commerce Secretary Lutnick discussed receiving support from Tether for a multimillion-dollar program.
This fact has been evaluated by Bloomberg analysts, for whom the expansion of USDT in the US may be dangerous, amid Trump’s pro-Bitcoin policies.