A crypto giant finds a new home in El Salvador.

Hello, this is the Marketplace Morning Report, and we're live from the BBC World Service.

I'm Leanna Byrne. Good morning.

Cryptocurrency firm Tether plans to move its headquarters to El Salvador,

as the founders behind the world's biggest stable coin look to capitalize on the central American

country's bid to become a hub for crypto trading. The BBC's Mariko always following this one. Hello.

Hello. What is it about El Salvador that has motivated Tether to choose it as its headquarters?

Yeah, it's a fascinating story, isn't it? It's probably not somewhere that

many of our listeners would have imagined a major crypto company to be headquartered in, but it has

actually been trying to be a hub for crypto trading, if you like, the country's president,

Naeib Ukele. He actually made it the first country to establish Bitcoin as legal tender alongside

the US dollar.

So it has been trying to achieve that status.

And as for Tether, you know, in case our listeners aren't too familiar with it, it's basically

it plays a key role in the booming market for stable coins, which are basically designed to

maintain somewhat of a

constant value by being pegged to traditional currencies like the US dollar. So basically offer

users, traders a way to move money between cryptocurrencies without exposing themselves to too

much of price swings. And yeah, the company has previously been incorporated in the British

Virgin Islands, but the company CEO has said that it's going to headquarter itself in El Salvador

and it's going to be the first physical headquarters. In terms of the regulation part,

though, I mean, does relocating to El Salvador, does that offer tether more regulatory freedom when you compare it to

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