“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,” Tether CEO Paolo Ardoino said in a statement.
Monday’s announcement added that the country had a “favorable regulatory environment.” Tether did not immediately respond to Decrypt’s questions.
Tether is the company behind USDT, the most-traded cryptocurrency. With a market cap of $137 billion, it is also the fourth-biggest digital asset by that metric.