Tether Moves $137 Billion USDT Headquarters from British Virgin Islands to El Salvador

Jan 13, 2025, 03:45 PM

Tether, the issuer of the stablecoin USDT with a $137 billion market cap, has announced plans to relocate its headquarters and subsidiaries from the British Virgin Islands to El Salvador, a Central American nation. This decision follows the acquisition of a Digital Asset Service Provider (DASP) license in the country. The move aligns with El Salvador's efforts to become a hub for digital assets and technology innovation, having made Bitcoin legal tender in 2021. Tether's CEO, Paolo Ardoino, stated that the relocation to El Salvador is a natural progression for the company, aiming to foster collaboration and strengthen its focus on emerging markets. El Salvador's favorable regulatory environment and its growing Bitcoin-savvy community, along with its commitment to financial freedom, were cited as key factors in the decision.