Tether is relocating its headquarters from the British Virgin Islands to El Salvador, having secured a digital asset service provider license.
"This move to El Salvador will be the first time we're going to have a physical headquarters," CEO Paolo Ardoino told Reuters, adding that the firm does not plan to physically relocate all 100 staff since most work remotely. However, it recently emerged that Aldoino himself became a naturalized citizen and bought a house in El Salvador in 2024.
“By rooting ourselves [in El Salvador], we are not only aligning with a country that shares our vision in terms of financial freedom, innovation, and resilience but is also reinforcing our commitment to empowering people worldwide through decentralized technologies.” - Paolo Ardonio.
The relocation aims to bolster collaboration and heighten their focus on emerging markets. Tether has increased ties with the "forward-thinking" Salvadoran government, which adopted Bitcoin as a legal tender under President Nayib Bukele's leadership.
Members Discussion