Tether is the world’s leading stablecoin. It has obtained a Digital Asset Service Provider License (DASP).
Tether stated that El Salvador was the first country to accept Bitcoin as legal currency. It has also established itself as an international hub of digital asset innovation.
Why El Salvador?
According to the firm, the country’s forward-looking policies under President Nayib Bukele have created an environment conducive to blockchain technology and crypto enterprises.
The stablecoin issuer continued that El Salvador’s regulatory framework and Bitcoin-first economy align with its mission to drive financial inclusion through digital assets.
Additionally, the relocation aims to enhance Tether’s ability to support underserved regions and promote financial innovation in markets often overlooked by traditional finance.
Tether’s CEO Paolo Ardoino emphasized that the decision reflects the company’s belief in El Salvador’s potential to lead the digital finance revolution.
He emphasized that the move would strengthen the company’s ability to explore new technologies while fostering collaboration within a supportive business ecosystem.
Then he added:
“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.”
Support for Bukele’s leadership
Tether’s move to El Salvador is not surprising, considering Ardoino is a strong fan of Bukele’s leadership in the central American country.
Over the past year, Ardoino has consistently hailed El Salvador’s transformation under Bukele, crediting his vision and dedication to making the country safer and more economically vibrant.
Ardoino sees Bukele as a potential leader that can help catalyze change. This is especially true in terms of adopting Bitcoin, and also fostering innovation.
“He said:
“[Bukele] represents the most evident example of the positive transformational impact of a politician and a leader that loves his people.”
Posted In: Tether, El Salvador, Featured, Regulation, Stablecoins The Author 
Oluwapelumi Adejumo
Oluwapelumi believes in the potential of Bitcoin. He shares his insights and opinions on topics such as DeFi, Hacks, Mining, Culture, etc., highlighting the transformative power of Bitcoin.
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Assad Jafri
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