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quoting nevent1q…6ddjTether Will Relocate HQ To El Salvador After Securing License
Tether Will Relocate HQ To El Salvador After Securing License
https://cointelegraph.com/news/tether-el-salvador-securing-license-property
Stablecoin issuer Tether announced that it would move the company and its subsidiaries to El Salvador after it had secured an operating license in the Latin American nation.
In a Jan. 13 notice, Tether https://tether.io/news/tether-licensed-in-el-salvador-strengthening-focus-on-emerging-markets-and-innovation/
it had acquired a license to operate in El Salvador as a digital asset service provider and stablecoin issuer. The company said it planned to relocate its headquarters and subsidiaries to El Salvador due to its “forward-thinking policies, favorable regulatory environment, and [...] growing Bitcoin-savvy community.”
“This decision is a natural progression for Tether as it allows us to build a new home, foster collaboration, and strengthen our focus on emerging markets,” said Tether CEO Paolo Ardoino, adding:
“By rooting ourselves [in El Salvador], 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.”
The move followed https://elfaro.net/bitcoiners-new-owners-el-zonte/
that Ardoino and Tether’s chief operating officer, Claudia Lagorio, acquired real estate and became naturalized citizens in the Latin American nation in 2024. Cointelegraph reached out to Tether for comment but did not receive a response at the time of publication.
“World’s coolest dictator” pushing Bitcoin adoption
Since Salvadoran President Nayib Bukele announced his intention to have the country adopt Bitcoin https://cointelegraph.com/bitcoin-price
as legal tender in 2021, many in the crypto industry have formed ties with the government or local businesses.
In 2023, Tether https://cointelegraph.com/news/tether-invests-in-el-salvador-renewable-energy-scheme
to one of El Salvador’s proposed renewable energy projects, including geothermal facilities.
Ardoino appeared to have met or talked with Bukele several times, https://x.com/paoloardoino/status/1827626173624451485
messages to social media echoing the Salvadoran President’s calls to bring in new companies and residents.
Source: https://x.com/paoloardoino/status/1593298288568049664
In an August 2024 interview, Bukele https://cointelegraph.com/news/bitcoin-widespread-adoption-el-salvador-nayib-bukele
had been a “net positive” for El Salvador but said he had not seen as many benefits as he had anticipated.
The government https://cointelegraph.com/news/el-salvador-daily-bitcoin-purchases-bukele-strategy
as of December — worth more than $550 million at the time of publication.
Since taking office in 2019 and getting reelected in 2024, the Salvadoran president, who once branded himself as the “world’s coolest dictator,” has been praised by many for helping reduce the country’s murder rate. However, reports have alleged that Bukele has also wrongly detained individuals critical of his administration and committed human rights abuses.
https://cms.zerohedge.com/users/tyler-durden
Tue, 01/14/2025 - 06:30
https://www.zerohedge.com/crypto/tether-will-relocate-hq-el-salvador-after-securing-license