Tether has announced that it will be establishing its headquarters in El Salvador, a country known for its bitcoin-friendly approach. The company shared that this decision was made after acquiring all necessary licensing to serve as a stablecoin issuer in the country.
As part of this move, Tether will be relocating its incorporated subsidiaries to El Salvador and creating its first physical headquarters.
The company’s spokesperson revealed that most of its entities were previously incorporated and licensed in the British Virgin Islands, but this new development does not affect its presence in Lugano, Switzerland, which is a major hub for the crypto industry.
Tether has received regulatory approval in El Salvador through its two companies, Tether NA El Salvador, S.A. de C.V. and Tether International El Salvador, S.A. de C.V., allowing it to engage in various crypto-related activities.
