15 hours ago
6
Tether, the company issuing USDT, the most popular stablecoin in the world, has announced the transfer of its main operations to El Salvador, the only country to have adopted Bitcoin as official currency.
The announcement marks a crucial step for the company’s global expansion and for consolidating El Salvador’s role as a cryptocurrency hub.
Tether obtains the DASP license in El Salvador
With a market capitalization of 137.4 billion dollars, USDT dominates the stablecoin market, representing an essential element for the functioning of the crypto markets.
The decision of Tether to transfer its main activities was favored by obtaining the license of Digital Asset Service Provider (DASP) and issuer of stablecoin in El Salvador.
In an official statement, Tether declared:
«This transfer represents a step forward in our commitment to promote the global adoption of Bitcoin, strengthening our position in one of the most forward-thinking markets in the world. El Salvador offers a dynamic and innovative environment that allows us to develop cutting-edge technological solutions to support growth in emerging markets.»
The company, originally based in the British Virgin Islands, plans to complete all the necessary formalities for the transfer in the coming months, thus consolidating its presence in a political and regulatory environment favorable to cryptocurrencies.
Why El Salvador?
The choice of El Salvador is not random. Since 2021, under the leadership of President Nayib Bukele, the country has adopted Bitcoin as legal tender alongside the US dollar, transforming itself into a model of experimentation for the crypto ecosystem.
The introduction of the Bitcoin Law and the establishment of Bitcoin City have attracted investors and tech companies, consolidating El Salvador’s reputation as an innovative hub for cryptocurrencies.
The pioneering approach of the country has created an ideal context for companies like Tether, which see in El Salvador a unique opportunity to expand into emerging markets and promote the large-scale adoption of cryptocurrencies.
Despite the move to El Salvador, Tether has reiterated that it will not abandon its activities in Lugano, a city in the Canton of Ticino, where it has launched significant initiatives to promote the adoption of Bitcoin. The partnership with Lugano, culminating in the Plan ₿, has seen the Swiss city become an important European center for the spread of blockchain technology and cryptocurrencies.
According to sources close to the company, Tether plans to intensify its presence in Lugano, confirming the strategic importance of the city in the European landscape.
This balance between El Salvador and Lugano represents a model of expansion that combines the dynamism of emerging markets with the stability of the consolidated infrastructures in Europe.
A signal for the global market
The transfer of Tether to El Salvador represents a significant signal for the entire cryptocurrency sector. On one hand, it highlights the growing role of emerging markets in the adoption and development of crypto solutions.
On the other hand, it reinforces the idea that stablecoins, although tied to the value of the dollar, can play a fundamental role in the expansion of the digital economy.
This move could also encourage other countries to follow El Salvador’s example, creating favorable regulatory environments to attract companies and investors linked to cryptocurrencies.
With this choice, Tether reaffirms its commitment to leading innovation in the crypto sector, leveraging the potential offered by an ever-evolving ecosystem.
Attention remains high to monitor how this transfer will influence the global market and the perception of stablecoin in the international economic landscape.
English (US) ·