Tether joins El Salvador's "Freedom Visa" program, which requires a $1 million BTC investment

El Salvador and Tether, the world’s largest stablecoin issuer, have launched a new citizenship by investment program, the “Adopt El Salvador Freedom Visa Program,” which aims to attract 1,000 individuals willing to make significant investments in the country using BTC or USDT.

Successful applicants will receive a residence visa, a pathway to citizenship, and the opportunity to become an integral contributor to El Salvador’s “socio-economic transformation”.

Tether Selected as Technology Provider for El Salvador

The government of El Salvador, in partnership with Tether, announced the launch of the program. It aims to create an environment in which individuals can actively shape the future of the nation by promoting economic expansion and driving transformative social change.

The initiative focuses on establishing El Salvador as a global hub for “cutting-edge” technology, financial innovation, culture, security and social progress.

According to the announcement, applicants must meet the eligibility criteria and make a non-refundable deposit of $999 in BTC or USDT in the streamlined application process to participate in the program. Once accepted, the deposit will be credited to the required $1 million BTC or USDT investment, securing a freedom visa and paving the way for citizenship.

Tether’s role as a technology enabler supports the initiative by providing the necessary technology and payment infrastructure. Paolo Ardoino, CEO of Tether, said:

Our partnership with the government of El Salvador is an important moment for Tether as a technology provider. This initiative highlights our commitment to supporting cities and communities in their pursuit of financial freedom and innovation. It provides us with a unique opportunity to leverage our technological capabilities to foster growth and innovation in the region. Being selected as a technology provider underscores the importance of a strong infrastructure in driving meaningful change. This partnership reinforces our dedication to advanced technology, national empowerment, and enabling individuals to invest in a future where innovation and progress go hand in hand.

Social Development and Economic Growth

The program aims to finance important social development projects, including the improvement of education, health infrastructure, basic services, transportation and communication networks.

As announced, these initiatives aim to elevate communities and lay the foundation for a more prosperous future for all Salvadorans, while positioning El Salvador as a symbol of progress in Central America.

Adriana Mira, Deputy Minister of Foreign Affairs of El Salvador, expressed the importance of the program for economic development and innovation. The streamlined application process and the emphasis on visionary contributions to the country’s development underscore El Salvador’s commitment to inclusive development. Mira concludes:

This partnership marks a key milestone in our commitment to economic development and innovation. The Adopt the El Salvador Freedom Visa Program provides a fantastic opportunity for individuals to actively participate in shaping our nation’s prosperous future.