Tether moves to El Salvador

The office of Tether and its subsidiary is moving to El Salvador after receiving a digital asset service provider license as a stablecoin issuer. This was reported by the company's press service.

“… This decision marks a step for Tether in promoting the global adoption of Bitcoin. It strengthens the company's position in one of the most advanced markets in the world and facilitates more efficient development and implementation of new solutions in a dynamic environment where innovation thrives,” the statement said.

Tether's management pointed out that El Salvador is rapidly becoming a global center for digital assets “thanks to forward-thinking policies, a favorable regulatory environment, and a growing community well-versed in Bitcoin.”

Earlier, we reported that the government of El Salvador took advantage of the situation during the drop in Bitcoin's price and acquired BTC, thereby increasing its cryptocurrency reserves.