Tether announces investment in the peso to expand its Latin American USDT payment and fiat on/off ramp network.
1 hours ago
Tether announced it led the pre-seed funding round for Bolivian fintech firm Peso, backing its expansion of stablecoin payment infrastructure across Latin America and driving adoption of USDT in everyday use cases including retail, e-commerce, food delivery, ride-hailing, and banking payments. Peso offers USDT accounts that combine savings, spending, investment, and cross-border transfers, and integrates USDT with Bolivia’s banking system via QR codes and the ACH payment network, enabling conversion between stablecoins and local fiat currency. Peso has also integrated USDT payments into digital services platform Yango, allowing users to pay for food delivery directly within the app using USDT. The round’s proceeds will be used to expand Peso’s local fiat on- and off-ramps in Bolivia, Brazil, Colombia, and Argentina, as well as to develop its merchant-facing POS payment network and virtual account infrastructure. Tether CEO Paolo Ardoino said: “Peso is building everyday consumption infrastructure, turning USDT from a savings tool into a payment channel for users’ daily needs.”
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