Tether Relocates to Bitcoin-Friendly El Salvador
- Tether has acquired a Digital Asset Service Provider license in El Salvador.
- The company is relocating all its subsidiaries from the British Virgin Islands to El Salvador.
- El Salvador made Bitcoin legal tender in 2021 under President Nayib Bukele.
- Tether’s USDT is the most-traded cryptocurrency with a market cap of $137 billion.
- USDT is backed by U.S. dollars, treasuries, and other assets.
Tether announced its move to El Salvador after obtaining a Digital Asset Service Provider license, aligning with the country’s favorable regulatory environment. The relocation includes all subsidiaries from the British Virgin Islands to El Salvador, where Bitcoin became legal tender in 2021. Tether’s USDT remains crucial in crypto trading, backed by stable assets like U.S. dollars and treasuries.
