According to Paolo Ardoino, the licensing framework “is very complete” and the process “very thorough.” Tether announced its move to El Salvador, something applauded by Nayib Bukele. The CEO of Tether, Paolo Ardoino, stated that the process for a company in the cryptocurrency sector to operate legally in El Salvador should be an example for the world due to its characteristics. In a message shared on X, Ardoino indicated that the framework governing the granting of licenses for digital asset companies in that country “is very complete.” And that the application process “is thorough.” “The same thing happens with stablecoins,” he said. Thus, he stated: “It should be taken as an example for the rest of the world.” Ardoino's comments came shortly after Tether reported its move to El Salvador, after having obtained the digital asset service provider license, as reported by BitcoinDynamic. The issuer of the USDT stablecoin, the largest in the market by capitalization, considers that the economy of the Central American country, which prioritizes bitcoin, aligns with its mission.
In addition, they consider that El Salvador has “cutting-edge policies, a favorable regulatory environment and a growing community knowledgeable about Bitcoin.” Tether expressed that this strengthens its position “in one of the most cutting-edge markets in the world and encourages the development and implementation of cutting-edge solutions more efficiently in a dynamic environment where innovation thrives.”
Ardoino highlighted the Salvadoran process for licensing cryptocurrency companies. Source: especially in what has to do with job creation. Bukele mentioned: “I am sure they will build their own tower, a skyscraper.” Tether's decision to move to El Salvador reflects a confidence in the stability and growth potential that the country offers, especially in a context where the Adoption of bitcoin and other cryptocurrencies is on the rise.
Furthermore, the presence of Tether, one of the largest companies in the stablecoin ecosystem, can attract more investments and talent to the countryfurther promoting technological and economic development. This strategic move by Tether towards El Salvador occurs at a time when cryptocurrency regulation is in the global spotlight, especially when US policy on this matter It seems to be about to take a 180 degree turn due to Donald Trump's administration.
