Tether Will Move to El Salvador
The chief executive of cryptocurrency firm Tether has announced plans to relocate the company’s headquarters to El Salvador, following the country’s efforts to establish itself as a leading center for crypto trading.
Tether, the world’s largest stablecoin provider, has gained significant traction in the growing market for stablecoins, which offer a stable value by being tied to traditional currencies.
CEO Paolo Ardoino shared with Reuters that the move to El Salvador comes after obtaining a license as a digital asset service provider in the country.
In addition, Ardoino and Tether’s other managers and founders will be relocating their personal residences to El Salvador, as the company was previously incorporated in the British Virgin Islands.
While not all employees will make the move, the company’s physical headquarters will now be in El Salvador.
