Tether’s move to El Salvador is a win for President Nayib Bukele
Why the stablecoin firm has picked the Central American country for its headquarters
“Welcome home,” crowed President Nayib Bukele on X, a social network. On January 13th Tether, the world’s leading stablecoin firm, announced that it had chosen El Salvador as the location of its first physical headquarters. (Stablecoins are cryptocurrencies whose value is supposed to track that of another asset, such as the dollar or gold.) The move is a triumph for Mr Bukele, who has been trying to turn the Central American country of 6.3m people into a crypto oasis.
Explore more
This article appeared in the The Americas section of the print edition under the headline “Crypto coup”
From the January 18th 2025 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from The Americas
Canada has adopted assisted dying faster than anywhere on Earth
The province of Quebec now allows those with deteriorating illnesses to request an assisted death in advance
From Greenland to Panama and Mexico, leaders are in shock
As Donald Trump eyes fine new pieces of real estate in the Americas and beyond
Canada and America have been fighting about timber for 40 years
As Donald Trump takes office, the chances of a lumber deal look slim
Justin Trudeau steps down, leaving a wrecked party and a divided Canada
Mark Carney and Chrystia Freeland are among those tipped as the next Liberal leader
Does made in Mexico mean made by China?
Donald Trump believes Mexico is a trojan horse for Chinese mercantilism
Failure to prepare for climate change is costing Honduras dear
Weeks after the most recent storm, the country is still in emergency mode