In a press conference yesterday, President Nayib Bukele revealed that Tether, one of the largest companies in the cryptocurrency industry, will establish its global headquarters in El Salvador. Bukele highlighted the significance of this decision, noting that Tether’s value is four times the GDP of El Salvador. Rather than relocating its operations, Tether will set up its headquarters in the country, along with its related companies.
“Tether’s main global headquarters will be located in El Salvador,” President Bukele stated. He also mentioned that Tether plans to build its own skyscraper in San Salvador, which will create additional job opportunities for Salvadorans.
Today, Tether’s Chief Technology Officer, Paolo Ardoino, confirmed the news on his X account: «Tether is moving to El Salvador. We will build our Tether Tower in San Salvador. Many others will follow.»
President Bukele further emphasized that although some companies have yet to relocate to El Salvador due to its past reputation, companies like Tether are leading the way. He praised the country’s ongoing progress and significant improvements, stating that El Salvador is increasingly overcoming past challenges and positioning itself as one of the best-rated and qualified nations in the Western Hemisphere.
This announcement marks another milestone in El Salvador’s ongoing efforts to attract global companies and establish itself as a hub for innovation and economic growth.