Tether Relocates to El Salvador After Securing DASP License
Tether, the issuer of the $137 billion stablecoin USDT, is relocating its operations to El Salvador and has acquired a Digital Asset Service Provider (DASP) license from local authorities. Key points include:
- El Salvador is the first country to adopt Bitcoin as legal tender.
- Tether aims to enhance Bitcoin adoption and appreciates El Salvador’s regulatory environment.
- CEO Paolo Ardoino emphasized a focus on emerging markets and innovation.
- The move aligns with Tether's commitment to financial freedom through decentralized technologies.
- Ardoino described El Salvador as Tether's "new home" for enhancing digital currency usage.
- This relocation positions Tether favorably against competitors in the crypto space.
Additionally, Bitfinex Derivatives has also obtained a DASP license in El Salvador, expanding its services to regional users.