Tether announces plans to relocate to El Salvador after securing DASP license

Source Cryptopolitan

Tether recently announced plans to relocate its headquarters from the British Virgin Islands to El Salvador with the aim of leveraging the country’s crypto-friendly environment. 

Following the acquisition of a Digital Asset Service Provider (DASP) license, the CEO of Tether, Paolo Ardoino, announced that the company’s headquarters will move from the British Virgin Islands where it was previously incorporated to El Salvador. 

El Salvador’s journey with crypto began in 2021 when it became the first country to adopt Bitcoin as legal tender. President Nayib Bukele chose the digital asset to bolster his country’s economy and enhance financial inclusion, disregarding concerns from traditional financial institutions and even the general populace. 

Tether’s decision to relocate its headquarters to El Salvador is largely due to the supportive and regulatory environment the country provides. 

Tether calls the movers 

El Salvador has embraced blockchain technology and is fast becoming an ideal destination for tech companies looking to build the future of financial systems in a favorable regulatory environment. The increasing regulatory scrutiny of stablecoins in regions like the European Union and the United States has improved the nation’s status as a haven for digital asset firms.

“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,” Ardoino said. 

While not all of Tether’s employees will be relocating, as most of them work remotely, the CEO and his fellow managers and co-founders will be packing up their residences and heading southwest. 

The benefits of the move

By establishing its first physical headquarters in El Salvador, Tether now has a role in contributing to the country’s economic development. It will also be a crucial ally for President Bukele in improving the acceptance of cryptocurrencies among the general populace. 

According to a study by Francisco Gavidia University in San Salvador, 7.5% of the El Salvador population actively uses Bitcoin. At one point, the country sat on over $300M from its Bitcoin investments when the leading digital asset crossed the $100,000 milestone. 

The company’s relocation may be the beginning of a wave of cryptocurrency firms looking to operate within more accommodating jurisdictions. Other countries may also be looking at the example of El Salvador as part of their strategy to attract digital asset companies. 

Reuters reports that Tether intends to hire 100 Salvadorans over the next several years, contributing to the local employment scene. 

A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold Price Forecast: XAU/USD recovers above $4,100, hawkish Fed might cap gainsGold price (XAU/USD) recovers some lost ground to near $4,105, snapping the two-day losing streak during the early European session on Friday. The precious metal edges higher on the softer US Dollar (USD).  Traders will take more cues from the Fedspeak later on Monday.
Author  FXStreet
Yesterday 01: 52
Gold price (XAU/USD) recovers some lost ground to near $4,105, snapping the two-day losing streak during the early European session on Friday. The precious metal edges higher on the softer US Dollar (USD).  Traders will take more cues from the Fedspeak later on Monday.
placeholder
Bitcoin slides deeper into red as bears lean on $96,600 wall and eye $90,000Bitcoin extends its decline after failing to reclaim $96,500, trading below $95,000, the 100-hour SMA and a bearish trend line near $96,600; unless bulls can force a decisive close back above $96,600–$97,200, the short-term path of least resistance stays lower, with $92,500, $90,000 and the main $88,500 support zone in focus.
Author  Mitrade
Yesterday 03: 35
Bitcoin extends its decline after failing to reclaim $96,500, trading below $95,000, the 100-hour SMA and a bearish trend line near $96,600; unless bulls can force a decisive close back above $96,600–$97,200, the short-term path of least resistance stays lower, with $92,500, $90,000 and the main $88,500 support zone in focus.
placeholder
Bitcoin briefly loses 2025 gains as crypto plunges over the weekend.Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.
Author  Mitrade
Yesterday 03: 11
Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.
placeholder
Gold Price Forecast: XAU/USD declines below $4,050 on USD strength and hawkish Fed comments Gold price (XAU/USD) extends the decline to around $4,030 during the early Asian session on Tuesday. The precious metal edges lower as traders dialed back expectations of a US interest rate cut next month.
Author  FXStreet
9 hours ago
Gold price (XAU/USD) extends the decline to around $4,030 during the early Asian session on Tuesday. The precious metal edges lower as traders dialed back expectations of a US interest rate cut next month.
placeholder
Ethereum Edges Toward Long-Term Holders’ Cost Basis, Now Only 8% Above Key Accumulation LevelEthereum is trading near $3,150 and just 8% above a key $2,895 long-term holders’ cost basis, with on-chain flows, macro uncertainty and support around $3,000–$2,800 all shaping what comes next for ETH.
Author  Mitrade
8 hours ago
Ethereum is trading near $3,150 and just 8% above a key $2,895 long-term holders’ cost basis, with on-chain flows, macro uncertainty and support around $3,000–$2,800 all shaping what comes next for ETH.
goTop
quote