Tether Relocates Entity, Subsidiaries to El Salvador

According to a statement on Monday, this marks a step in Tether’s journey to foster global Bitcoin adoption banking on El Salvador’s history with cryptocurrency.

“This strengthens Tether’s position in one of the world’s most forward-thinking markets and fosters the development and implementation of cutting-edge solutions more efficiently in a dynamic environment where innovation thrives. It underscores the company’s dedication to leveraging Bitcoin’s transformative potential as it drives growth in emerging markets,” the statement said.

The company said El Salvador is rapidly establishing itself as a global hub for digital assets and technology innovation.

“By embracing blockchain technology and digital currencies, El Salvador is fostering an ecosystem that encourages innovation and attracts investment in the broader financial and technology sectors.

“This strategic positioning is helping to shape the future of financial systems, making the country a key player in the global fintech landscape,” Tether added.

Speaking on this, Mr Paolo Ardoino, CEO of Tether said, “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.

“El Salvador represents a beacon of innovation in the digital assets space. 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.”

As it takes these next bold steps, the company looks forward to working closely with El Salvador’s government, businesses, and communities to shape the future of financial technology.