The Tether Group intends to move all its operations to the Bitcoin-friendly nation of El Salvador once necessary regulatory permits have been obtained.
As a crypto investor, I’m excited about the news that Tether and its affiliates are planning to set up their global headquarters in El Salvador – the pioneering nation that has recognized Bitcoin (BTC) as legal tender. This move signifies a significant step forward in the integration of cryptocurrencies into mainstream financial systems.
In a recent press release, Tether’s CEO, Paolo Ardoino, stated that this move is a logical advancement for the company, as they have recently acquired a Digital Asset Service Provider license in El Salvador through their subsidiary, Bitfinex Derivatives, based in Seychelles.
Cardano‘s founder underscored that moving to El Salvador would allow the company to sharpen its attention towards burgeoning markets and broaden cryptocurrency infrastructure, catering to a wider range of investors.
For the first time, the headquarters of Tether, iFinex’s digital currency, will officially be established in a particular location. Previously, iFinex, Tether’s parent company, operated from Hong Kong and was registered in the British Virgin Islands.
In this location, El Salvador serves as a shining example of pioneering efforts in the digital currency sector. By establishing ourselves here, we are not only aligning with a nation that mirrors our values regarding financial independence, creativity, and robustness, but also underscoring our dedication to equipping people globally through decentralized technologies.
Paolo Ardoino, Tether CEO
Tether is the most prominent issuer of stablecoins within the crypto world, with USDT having a market capitalization of $137 billion. The value of USDT reached an all-time high for the industry leader last December at $140 billion. Moreover, the company has suggested that they may focus on artificial intelligence by 2025.
I’m thrilled about Tether moving to El Salvador! El Salvador stands as a symbol of freedom, and Nayib Bukele is a motivating leader who guides the nation with love, enthusiasm, and wisdom. We continue to support this move!
— Paolo Ardoino 🤖🍐 (@paoloardoino) January 13, 2025
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2025-01-13 18:50