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International Business Times
International Business Times
Business
Marvie Basilan

Tether Is Relocating To Bitcoin Country El Salvador, Nayib Bukele Welcomes $USDT Issuer 'Home'

Tether Nayib Bukele El Salvador Bitcoin Crypto United States Bitfinex Paolo Ardoino International Monetary Fund
Tether is moving to El Salvador. (Credit: YouTube Screenshot/Tether Official YouTube Channel)

KEY POINTS

  • Paolo Ardoino said it was a 'natural progression' for Tether to relocate to El Salvador
  • Tether hailed the country's embrace of blockchain and its 'favorable' regulatory landscape
  • El Salvador's Nayib Bukele, a known Bitcoin maximalist, welcomed Tether 'home'

Stablecoin giant Tether announced Monday it is nearing the completion of formalities to relocate to El Salvador after it secured a Digital Asset Service Provider (DASP) license and a stablecoin issuer license in the central American nation.

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