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Crypto firm Tether and its founders finalizing move to El Salvador

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.
Tether, a prominent stablecoin issuer, along with its founders, are in the final stages of relocating to El Salvador, as announced by the country's President Nayib Bukele on January 13, 2025. This move is part of El Salvador's broader initiative to become a hub for cryptocurrency, having already made Bitcoin legal tender in 2021. Tether, which issues a stablecoin pegged to the U.S. dollar, has been expanding its operations and partnerships, notably with El Salvador's government, to enhance the country's digital asset infrastructure. The relocation aims to leverage El Salvador's welcoming regulatory environment for cryptocurrencies, potentially boosting the local economy and further integrating digital currencies into everyday financial transactions.

Read the Full Reuters Article at:
[ https://www.reuters.com/technology/crypto-firm-tether-its-founders-finalising-move-el-salvador-2025-01-13/ ]