El Salvador announced the launch of a program called El Salvador Freedom Visa Adoption, in collaboration with the USDT stablecoin issuer Tether. This initiative aims to restructure El Salvador’s socio-economic fabric, positioning the country as a bridge for technology, culture, and social progress.
The main goal of the program appears to be to attract individuals with significant assets to the country. With this project, El Salvador aims to expand into a new dimension in the international tourism sector and secure its position as a key country in technological and financial innovation by investing in the future.
Tether CEO Paolo Ardoino provided detailed comments about the collaboration: “Our partnership with El Salvador represents a significant milestone for Tether as a technology provider. This initiative is proof of our commitment to promoting financial freedom and innovations in communities and cities.”
Adriana Mira, Deputy Minister of Foreign Affairs of El Salvador, stated that the collaboration marks an important turning point for the country’s economic innovation and development. She expressed that the “El Salvador Freedom Visa Adoption Program” offers the opportunity to shape a prosperous future for the country.
This project is being implemented following El Salvador’s decision to recognize Bitcoin as a legal payment method in 2021. The country’s steps in this direction and vision seem to align with its commitment to the cryptocurrency. This move has helped to integrate a significant portion of the Salvadoran population into the formal economy, adopt financial inclusion and literacy, and pave the way for economic growth through advanced investment opportunities.