El Salvador and Tether launch Visa program for Bitcoin investors

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To boost its developing digital economy, El Salvador’s government and Tether, the company that created USDT, the world’s most widely used stablecoin, have introduced a new visa scheme to attract investors. 

The program, known as the “Adopting El Salvador Freedom Visa Program,” offers a pathway to Salvadoran citizenship for those willing to invest substantial capital in Bitcoin or the stablecoin USDT.

The program requires a non-refundable USD 999 deposit in Bitcoin or USDT, with all applicants undergoing a KYC process. Upon acceptance, the deposit will be credited toward the $1 million in Bitcoin or USDT investment required to secure the Freedom Visa and subsequent citizenship.

Adriana Mira, El Salvador’s Vice Minister of Foreign Affairs, stated:

“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.”

Tether’s involvement aims to strengthen the country’s status as a pioneer in mainstream crypto adoption. Tether CEO Paolo Ardoino cited the company’s commitment to empowering advancement through its blockchain payment rails. El Salvador made headlines in 2021 as the first to accept Bitcoin as legal tender.

By incentivizing participation in its growing digital economy, El Salvador hopes to position itself as an attractive technological and innovation center in the Central American region. 

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