Following DASP license approval, Tether will relocate its headquarters to El Salvador.

Key receivers

After acquiring the DASP license, Tether moved to El Salvador, with the country's pro-Bitcoin policies. The move reinforces Tether's focus on Bitcoin adoption and financial inclusion in underserved regions.

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The world's largest stablecoin issuer, Tether, is relocating its operations to El Salvador after obtaining a Digital Asset Service Provider (DASP) license.

By establishing a presence in a Bitcoin-friendly nation, Tether aims to align with El Salvador's progressive regulatory framework and Bitcoin-focused policies.

The USDT stablecoin, with a market capitalization of $137 billion, is moving to El Salvador to join Bitfinex Derivatives and become the first country to accept Bitcoin as legal tender in 2021.

“This decision is a natural progression for Tether as it allows us to build a new home, enhance collaboration and strengthen our focus on emerging markets,” Tether CEO Paolo Arduino said in the company's press release.

Arduino described El Salvador as a symbol of digital asset innovation, highlighting its ties to Tether decentralized technologies.

The country currently holds 5,750 BTC in reserves, worth $530 million.

Its supportive regulatory framework and Bitcoin-focused policies have made El Salvador an attractive destination for crypto companies looking for a convenient operating base.

Tether plans to develop new solutions as it expands its presence in regions that do not use El Salvador's regulatory framework.

The company aims to promote financial inclusion in developing markets through Bitcoin and stablecoin adoption.

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