The post Can El Salvador Become the Global Hub for Crypto Amid Tether Collab? appeared on BitcoinEthereumNews.com.

Tether, the issuer of the USDT stablecoin has disclosed its plan to move its base to El Salvador after acquiring the Digital Asset Service Provider (DASP) license. This license enables Tether to work as a stablecoin issuer and a digital asset service provider in the country. Tether Licensed in El Salvador, Strengthening Focus on Emerging Markets and Innovation 🇸🇻 Read more:https://t.co/IqLsF9jEKH — Tether (@Tether_to) January 13, 2025 Paolo Ardoino, the CEO of Tether, stated that he is quite enthusiastic about the decision that the government of El Salvador has made, as it is in line with Tether’s goal for the future of finance. ”We are partnering with a country that has a vision of financial freedom, innovation, and stability which is the same as us,” Ardoino stated. Tether choice of moving to the new location points to the company’s interest in the emerging markets, especially El Salvador that made Bitcoin legal tender since 2021. Collaborating with El Salvador’s Government for Financial Access Additionally, the company intends to collaborate with the government of El Salvador to promote financial inclusion through stablecoins. Through its USDT stablecoin, the company is looking to offer businesses and other entities in the country a solution to decentralized finance. Tether executives, including Paolo Ardoino and COO Claudia Lagorio, have already bought property in El Salvador and have gotten citizenship.  The Salvadoran government has actively welcomed crypto enterprises under the leadership of President Nayib Bukele, who views cryptocurrency adoption as key to the country’s economic growth. El Salvador as a Destination for Crypto Innovation El Salvador has implemented policies that have attracted global cryptocurrency companies, including Tether. Establishment of bitcoin as legal tender and the provision of the regulatory framework for digital assets has paved the way for the blockchain industry. – Advertisement – Bitfinex Derivatives, another big…

---

Filed under: News - @ January 15, 2025 3:15 am