Tether (USDT) to establish HQ in El Salvador

Tether and its subsidiaries plan to establish a global headquarters in El Salvador, the first country to adopt Bitcoin (BTC) as legal tender. “This decision is a natural progression,” Tether CEO Paolo Ardoino said in a press statement as the stablecoin giant recently obtained a Digital Asset Service Provider license in El Salvador via Bitfinex Derivatives, its Seychelles-based affiliate. Ardoino emphasized that relocating to El Salvador will enable the company to enhance its focus on emerging markets and expand crypto facilities for a broader investor base.

iFinex, Tether’s parent company, is currently based in Hong Kong and registered in the British Virgin Islands. However, this marks the first time Tether will be formally headquartered in a specific location.

Tether is the largest stablecoin issuer in crypto, with USDT commanding a $137 billion market capitalization. USDT’s valuation previous hit $140 billion last December, an all-time high for the stablecoin leader. Also, the firm hinted at artificial intelligence-focused plans in 2025.