Tether, the issuer of the USDT stablecoin, has announced it has obtained a license to operate in El Salvador and will consequently move its headquarters and subsidiaries to the country.
This decision has been made due to El Salvador's forward-thinking regulations, progressive policies and growing awareness of Bitcoin.
The company's CEO, Paolo Ardoino, has stated this move is a natural progression for the company, as it allows them to establish a new base, foster collaboration and focus on developing markets.
He also emphasized that by establishing itself in El Salvador, Tether not only aligns itself with a country that shares its values of financial freedom and innovation, but also reaffirms its commitment to empowering people around the world through decentralized technologies.