By Guest 
Tether, the company behind the popular stablecoin USDT, has announced its decision to move its headquarters and subsidiaries to El Salvador.
The move comes after the company secured a license to operate in the country as a digital asset service provider and stablecoin issuer.
Tether Relocates Headquarters to El Salvador
According to a report by Cointelegraph, Tether highlighted that its decision was motivated by El Salvador’s forward-thinking policies, supportive regulatory environment, and vibrant community. Paolo Ardoino, Tether’s CEO, stated:
This decision is a natural step for Tether as it allows us to establish a new home, strengthen our collaborations, and focus on emerging markets. By relocating to El Salvador, we align ourselves with a country that shares our vision for financial freedom, innovation, and resilience. This move also reaffirms our commitment to empowering people worldwide through decentralized technologies.
In 2024, Ardoino and Claudia Lagorio, Tether’s Chief Operating Officer, purchased properties in El Salvador and obtained citizenship. The country, led by President Nayib Bukele, made headlines in 2021 by adopting Bitcoin as legal tender. This bold move has attracted several cryptocurrency companies and investors, fostering stronger ties between the industry and local businesses.
Tether has already taken steps to contribute to El Salvador’s economy. In 2023, the company announced investments in the country’s renewable energy projects, including geothermal facilities. Reports indicate that by December 2024, El Salvador will hold over 6,000 Bitcoins, valued at approximately $550 million.
The relocation marks a significant milestone for Tether and reinforces El Salvador’s position as a global hub for cryptocurrency innovation.