Outside Source
Tether is moving its operations from the British Virgin Islands to El Salvador after being granted a Digital Asset Service Provider license.
Breaking news
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 said it had acquired a license to operate in El Salvador as a Digital Asset Service Provider (DASP) 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, CEO of Tether, 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 reports 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.
This is a developing story, and further information will be added as it becomes available.
This article first appeared at Cointelegraph.com News
