Tether to Build 70-Story Skyscraper in El Salvador as Symbol of Economic Growth
Date: 2025-02-03 Author: Henry Casey Categories: BUSINESS
Tether, a company known for its USDT stablecoin with a market cap of about $140 billion, is planning to build a modern skyscraper, Tether Tower, in El Salvador, which will become its new headquarters.
The company's CEO Paolo Ardoino noted that the high-rise building, reaching 70 floors, symbolizes the support of President Bukele and his desire to turn the country into a hub for digital assets.
"This will be a sign of economic growth and confidence in the future," Ardoino said, emphasizing that the company does not intend to place its logo on the building.
The skyscraper will house not only Tether's offices, but also other tech companies, including its partner Rumble. This project recently received support from local authorities, who approved an agreement to provide cloud computing services.
According to Ardoino, the key factor in the headquarters’ move was the country’s favorable regulation: “El Salvador is one of the few jurisdictions that has recognized the potential of cryptocurrencies and offers a stable regulatory environment.” He also expressed confidence in the future of Latin America as a promising region, emphasizing that, unlike Europe, which is in economic decline, El Salvador is showing dynamic development and openness to innovation.
