Cryptocurrency firm Tether plans to move its headquarters to El Salvador, its chief executive said, as the founders of the world's biggest stablecoin look to capitalize on the Central American country's bid to become a hub for crypto trading.

The stablecoin behemoth Tether is setting up shop for the group and its companies in Nayib Bukele's El Salvador.

CEO Paolo Ardoino said Tether would relocate to El Salvador after the cryptocurrency recently obtained a licence there as a digital asset service provider. Ardoino and his fellow managers and co-founders of Tether will also move their residences to El Salvador, he said. Previously, the company was incorporated in the British Virgin Islands.

Tether has secured a Digital Asset Service Provider license in El Salvador, enabling its relocation to the country.

Cryptocurrency firm Tether plans to move its headquarters to El Salvador, as the founders behind the world's biggest stablecoin look to capitalise on the Central American country's bid to become a hub for crypto trading.

DUBAI - Cryptocurrency firm Tether plans to move its headquarters to El Salvador, its chief executive said, as the founders of the world’s biggest stablecoin look to capitalise on the Central American country’s bid to become a hub for crypto trading.

Tether recently announced plans to relocate its headquarters from the British Virgin Islands to El Salvador with the aim of leveraging the country’s crypto-friendly environment. Following the acquisition of a Digital Asset Service Provider (DASP) license,

Tether is moving headquarters to El Salvador after securing a DASP license. The company was previously incorporated in the British Virgin Islands. Tether and El