El Salvador Partners Tether to Launch Freedom Visa On Bitcoin and USDT Investment
El Salvador has announced a citizenship-by-investment scheme powered by Tether, the company behind stablecoin, USDT that allows people to acquire citizenship through Bitcoin (BTC) and USDT investments.
The stablecoin issuer disclosed the partnership in a Dec 7 press release rolling out the El Salvador Freedom Visa Program where people can contribute to the country’s development and earn citizenship status as a reward.
“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.
Targeted at high net worth individuals, the policy sees investors as positioning El Salvador as a global hub for technology and financial innovation to obtain a passport.
According to the release, the program will incentivize support for the region’s development, cultural enrichment, and upliftment. The first step toward application is a non-refundable $999 deposit in Bitcoin or USDT and necessary Know-your-customer (KYC) requirements.
All accepted candidates are required to credit the deposit of up to $1 million in BTC and USDT investments to secure the Freedom Visa and citizenship.
The process has been described as mutually beneficial to all parties as El Salvador gains investment in its tourism and socio-cultural heritage while the people get to become citizens after investing so much in the country.
El Salvador’s Freedom Visa plan encompasses collective contributions to secure citizenship meaning families, spouses, parents, and guardians can apply to the country.
However, the $1 million price appears on the high
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