By Federico Maccioni DUBAI (Reuters) -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.

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.

The stablecoin behemoth Tether is setting up shop for the group and its companies in Nayib Bukele's El Salvador.

Tether announces its service relocation plans after acquiring a Digital Asset Service Provider (DASP) license. USDT issuer Tether joins Bitfinex Derivatives in moving operations to El Salvador. Tether is on its way to establishing new headquarters in El Salvador,

Tether has secured a Digital Asset Service Provider license in El Salvador, enabling its relocation to the country.

Cryptocurrency firm Tether plans to move its headquarters to El Salvador, as the founders behind the world's biggest stablecoin look to capitalise on the Central American country's bid to become a hub for crypto trading.