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Tether announces company move to El Salvador
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THE Tether Group will move its operations headquarters to El Salvador. The announcement was made last Monday, 13th, through Tether’s official account. The Group’s CEO, Paolo Ardoino, celebrated the change by declaring that El Salvador is a beacon of freedom. Move comes after the successful acquisition of a Digital Asset Service Provider (DASP) license in the Caribbean country.
According to the statement, the move to El Salvador represents a significant step in Tether’s journey to promote global Bitcoin adoption. Furthermore, the company, which belongs to IFinix, made a point of highlighting its presence in one of the most innovative markets in the world.
El Salvador is known worldwide for its progressive cryptocurrency policies. Under the command of Nayib Bukele, the Caribbean country adopted Bitcoin as the country’s official currency in September 2021. Released data indicates that El Salvador holds around 5,800 Bitcoin.
Ardoino also highlighted that the Tether’s presence in El Salvador aligns the company with a nation that shares its vision of financial freedom and reinforces the company’s commitment to empowering people around the world through decentralized technologies.
Land of freedom
Furthermore, according to the statement, Tether expects expand its efforts to support financial inclusion by leveraging the adoption of Bitcoin and stablecoins in underserved regions. The statement makes clear that the company will work closely with the government, businesses and communities of El Salvador to shape the future of financial technology.
After the announcement was released, the USDT price rose again. The price of the company’s main product with more than US$130 billion in market capitalization, created to be a digital alternative to the dollar, rose from US$998 to US$999, recovering US$100 million in capitalizationaccording to data from GoinGecko. A small variation, but it indicates that the news of moving to the Caribbean country was well received by the market.
Mainly, due to the current context of the company, which has been going through challenges, putting Tether’s hegemony in check. In late 2024 and early 2025, Tether was one of the hot topics in the cryptocurrency sector. The company was unable to comply with MiCA requirements, European stock exchanges began to delist USDT from their listings..
Tether announces company move to El Salvador
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Tether announces company move to El Salvador
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Tether announces company move to El Salvador