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, the world's largest stablecoin issuer, is relocating its operations to El Salvador after receiving a regulatory license, while simultaneously investing in the region through a $775 million stake in Rumble,

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