Tether is ready to move to El Salvador
The post Tether is ready to move to El Salvador appeared on BitcoinEthereumNews.com.
Tether, the world’s largest stablecoin, has announced that it “and its subsidiaries are about to complete all formalities to relocate to El Salvador.” This comes after Tether acquired a Digital Asset Service Provider (DASP) license in El Salvador. It also follows an announcement from Bitfinex Derivatives that it had also received a DASP license in the country. 📢 Bitfinex Derivatives has been awarded a Digital Asset Service Provider licence in 🇸🇻 El Salvador – a monumental step in our global expansion. The new licence supports El Salvador as a key digital asset financial centre.Discover more:https://t.co/vPGO01clhp pic.twitter.com/79hdbBHONX — Bitfinex (@bitfinex) January 7, 2025 The full list of Bitfinex and Tether entities that seem to have received DASP licenses is: Bitfinex Derivatives El Salvador, S.A. de C.V. TGNA El Salvador S.A. de C.V. TG Commodities El Salvador, S.A. de C.V. Tether NA El Salvador, S.A. de C.V. Tether International El Salvador, S.A. de C.V. Moon Gold El Salvador, S.A. de C.V. Moon Gold NA, S.A. De C.V. Bitfinex Securities El Salvador, S.A. De C.V. Bitfinex Securities was the first of these entities to really start operating in El Salvador, though it has struggled to find any serious adoption. This transition to El Salvador has also involved Tether executives, including Paolo Ardoino, Claudia Lagorio, and Giancarlo Devasini, purchasing real estate in El Salvador. Read more: Nayib Bukele reveals El Salvador received 4,560 bitcoins from Bitfinex El Salvador has also relied on Bitfinex to execute its daily purchases of bitcoin. Tether and the authoritarian ‘president’ of El Salvador, Nayib Bukele, have also relied on the same lobbying firm, DMM Consulting, to advocate on their behalf. These connections to El Salvador and the Bukele administration are just examples of the growing political influence of Tether. Contemporaneously, Howard Lutnick, the chief of Tether shareholder and partner…
Filed under: News - @ January 13, 2025 5:21 pm