Tether, the company behind the world’s largest stablecoin with a market capitalization of $137.49 billion, is set to build a landmark 70-story tower in El Salvador. The announcement, made by Tether’s CEO Paolo Ardoino, underscores the company’s commitment to the country as part of its decision to transfer all operations and subsidiaries to El Salvador.

The tower, projected to be the tallest in the country, will be a symbol of prosperity and growth, with an investment amounting to hundreds of millions of dollars. It will house Tether, as well as several other tech companies attracted by El Salvador’s stable regulatory framework and growing digital assets sector.

“We want to show that we are not just coming to put a logo on any building. Our commitment is bigger,” said Ardoino, emphasizing the company’s long-term vision for infrastructure and employment in the country. The project is also expected to create numerous jobs in technology, compliance, and various other sectors, with Tether already beginning the hiring process.

Ardoino also highlighted Tether’s role in advancing education in El Salvador through the Plan B Network, in partnership with CUBO+, to train locals in bitcoin software development. The CEO pointed to El Salvador’s regulatory clarity and notable improvements in security as key factors in the company’s move from the British Virgin Islands to the country.

“El Salvador is one of the few countries that have really understood the potential of digital assets,” Ardoino stated, commending the country for its stability and the creation of laws that support digital currencies, including the Digital Asset Issuance Law and a new stablecoin law. He also praised the government’s efforts in improving national security, which has transformed El Salvador from a former hotspot for violence to one of the safest countries in the Americas.

The announcement has already sparked greater interest from other companies, with Ardoino predicting that the next few months will see an influx of investments. “El Salvador is the country of the future. Latin America, and El Salvador specifically, will be one of the main spaces for the future of the world,” he added.

Beyond his business investment, Ardoino expressed his personal connection to the country, revealing that he had applied for Salvadoran nationality. “I was born in Italy, but today I am also Salvadoran. I am proud to be Salvadoran,” he said, reinforcing his belief in the country’s potential for growth and innovation.

https://twitter.com/PlanBElsalvador/status/1885736977120506016