Tether Powers El Salvador's Visionary Freedom Visa Program Through Technology Support

Tether Powers El Salvador's Visionary Freedom Visa Program  Through Technology Support
by Tether | Dec 7 2023

El Salvador, 7 December 2023 —Today, the government of El Salvador and Tether, the largest company in the cryptocurrency industry, announced the launch of the "Adopting El Salvador Freedom Visa Program”. This visa program is designed to foster an environment where individuals contribute to shaping a new socio-economic landscape for El Salvador, a growing hub of international tourism, and attract individuals deeply committed to catalyzing economic expansion and driving transformative societal change. 

The new program is primarily focused on enabling participants to play a role in co-creating a future that will set new benchmarks in culture, safety, technology, and societal progress. By participating in establishing El Salvador as a dynamic global center for cutting-edge technology and financial innovation, individuals become integral partners in steering a nation toward exceptional growth and evolution and offer a path to obtain a Salvadoran Passport.  Eligibility for the program prioritizes visionary individuals, including high-net-worth investors, who aspire to contribute significantly to societal progress.

"Our collaboration with the government of El Salvador is a significant moment for Tether as a technology provider,” said Paolo Ardoino, CEO of Tether. “This initiative highlights our commitment to supporting cities and communities in their pursuit of financial freedom and innovation. It represents a unique opportunity for us to utilize our technological capabilities to foster growth and innovation in the region. Being chosen as the tech provider underscores the importance of robust infrastructure in driving meaningful change. This partnership reinforces our dedication to advancing technology, empowering nations, and enabling individuals to invest in a future where innovation and progress go hand in hand."

This pioneering collaboration underscores Tether's role as a technology enabler, supporting cities, countries, and communities by providing essential tech and payment infrastructure. The initiative aims to elevate El Salvador as a trailblazing hub for tourism and economic liberty, marking a significant step toward societal evolution and innovation.

Adriana Mira, El Salvador’s Vice Minister of Foreign Affairs emphasized, "This collaboration signifies a pivotal milestone in our dedication to economic development and innovation. The 'Adopting El Salvador Freedom Visa Program” offers an extraordinary opportunity for individuals to actively participate in shaping a prosperous future for our nation."

Vital social development projects include improving learning resources and facilities for students, upgrading medical infrastructure, and ensuring widespread access to essential services, as well as strengthening the country's infrastructure, including transportation and communication networks. These projects aim not only to uplift communities but also to lay a foundation for a more prosperous future for all Salvadorans. This commitment reflects El Salvador's dedication to inclusive development and positions the country as a symbol of advancement in Central America.

The program's application process is streamlined to encourage visionary contributions to El Salvador's economic development, cultural enrichment, and societal upliftment. The process requires a non-refundable $999 USD deposit in Bitcoin or USDt, and all accepted applicants must pass KYC. Upon acceptance, the deposit will be credited toward the $1 million in Bitcoin or USDt investment required to secure the Freedom Visa and then citizenship, This investment enables participants to secure the Freedom Visa and actively contribute to the nation's growth. Families also have the opportunity to apply collectively, allowing eligible family members, such as spouses, children, and dependent relatives, to join in shaping El Salvador's future.

For more information on the “Adopting El Salvador Freedom Visa Program”, please visit https://adoptingelsalvador.gob.sv/welcome

About El Salvador and Bitcoin

El Salvador made Bitcoin a legal tender in 2021 and is a trailblazer in showing how Bitcoin and decentralized ledger and peer-to-peer technologies can accelerate financial literacy and inclusion. This groundbreaking move has opened avenues for enhanced financial participation, investment opportunities, innovation, and overall economic development. By embracing Bitcoin as legal tender, El Salvador has taken significant strides towards integrating approximately 70 percent of its population, who previously lacked bank accounts, into the formal economy.

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