El Salvador’s President Nayib Bukele has invited Rumble to relocate its headquarters to the country as Tether has moved to set up its corporate base there.
Bukele’s suggestion came shortly after Rumble CEO Chris Pavlovski hinted at new platform initiatives with Tether CEO Paolo. President Bukele used the opportunity to publicly invite Rumble to move its headquarters to El Salvador like Tether.
You should move your headquarters here too 🤷🏻♂️ https://t.co/4vPPXO1z3G
— Nayib Bukele (@nayibbukele) January 13, 2025
Crypto Firms Heading to El Salvador?
Accordingly, Bukele’s suggestion drew widespread attention. Some commentators speculated that El Salvador could become a hub for crypto companies and tech innovators.
For instance, one observer suggested that everyone in the crypto industry should consider relocating their headquarters to El Salvador, referencing the growing trend of companies moving to the country.
However, another commenter questioned whether this relocation would prompt any changes to digital asset strategies or if the focus would remain exclusively on Bitcoin.
Tether Setting Up HQ in El Salvador
These discussions come on the heels of Tether’s announcing relocating its corporate headquarters to El Salvador. According to Paolo Ardoino, this decision follows Tether’s successful acquisition of a license to operate as a digital asset service provider in the country.
As part of this transition, Ardoino and Tether’s senior leadership team, including its co-founders, plan to move their residences to El Salvador.
While the headquarters relocation represents a major organizational change, Ardoino stated that Tether’s global workforce of over 100 employees would not all relocate to El Salvador. Many team members will continue to work remotely.
However, the company intends to bolster its local presence by hiring approximately 100 Salvadoran employees over the next several years.
In the announcement, Ardoino described El Salvador as a beacon of freedom and innovation. He commended the country’s leadership under President Bukele for fostering a supportive environment for crypto initiatives.
Rumble Partners with El Salvador
Notably, Rumble, a video-sharing platform rivaling YouTube, announced a new partnership with the Salvadoran government earlier this month.
Under this agreement, Rumble will provide a suite of cloud services, including storage solutions, computing power, database management, and Kubernetes integration.
Rumble CEO Chris Pavlovski highlighted the importance of this partnership. Specifically, he noted that Rumble’s technology offers the reliability and scalability needed for critical government operations.
Stacy Herbert, Director of the National Bitcoin Office of El Salvador, echoed similar sentiments. He described the collaboration as a natural alignment of values between the government and Rumble. This agreement further strengthens El Salvador’s push for technological innovation and independence.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
