Tether has led a pre-seed funding round in Bolivian fintech Peso to expand USDT payments across four Latin American countries, including services that connect stablecoins with food delivery platforms and local banking networks.
Summary
- Tether has led an undisclosed pre-seed investment in Bolivian fintech Peso to expand USDT payment services.
- Peso enables customers to pay for Yango food deliveries in Bolivia using the dollar-pegged stablecoin.
- The company connects stablecoin wallets with local bank transfers, QR payments and merchant payment terminals.
- Funding will support Peso’s operations in Bolivia, Brazil, Colombia and Argentina.
- The investment follows Tether’s recent backing of other payment providers serving Latin American markets.
According to Tether’s October 21 announcement, the investment will support Peso’s operations in Bolivia, Brazil, Colombia and Argentina, with funding directed toward payment infrastructure, merchant services and local currency conversion.
Tether backs Peso’s expansion into everyday USDT payments
Peso operates a financial application that allows customers to hold USDT, transfer funds internationally, make purchases and access savings and investment services. The company connects digital dollar balances with conventional payment systems used by consumers and businesses.
In Bolivia, Peso has integrated USDT payments into Yango, allowing customers to order food and pay directly with the stablecoin through the delivery platform.
The integration is an existing service, according to Tether’s announcement. However, neither company disclosed the number of transactions processed, participating restaurants or the value of payments completed through Yango.
Peso offers merchant-facing point-of-sale services and QR payments, alongside virtual accounts registered in customers’ names. Through connections with Bolivia’s banking system, users can move funds between USDT and local currency using automated clearing house transfers.
The company intends to develop those services across its four existing markets, concentrating on local deposit and withdrawal arrangements that allow businesses to accept stablecoin payments without operating exclusively within cryptocurrency platforms.
Tether did not disclose the amount invested, Peso’s valuation or the identities of other participants in the financing.
Peso CEO and co-founder Alejandro Terán said the company’s work focuses on making USDT available for routine purchases and international transfers.
“Latin Americans are already using USD₮; what was missing was the infrastructure to spend it in everyday life without friction,” Terán said.
Peso connects USDT with banking and merchant services
The planned expansion includes new connections between stablecoins and local financial institutions, allowing users to convert between digital dollars and national currencies.
According to Tether, the fintech will develop its payment terminal network and virtual account infrastructure while connecting settlement services across Bolivia, Brazil, Colombia and Argentina.
Tether CEO Paolo Ardoino described the investment as support for payment infrastructure that allows consumers to spend USDT beyond cryptocurrency trading and savings applications.
“Peso is building the kind of everyday-spend infrastructure that turns USD₮ from a savings tool into a payments channel people rely on daily,” Ardoino said.
The announcement identifies e-commerce, retail payments, ride-hailing and banking services among the sectors Peso intends to serve. It does not announce completed integrations with ride-hailing providers or additional commercial partners beyond Yango.
Tether has not provided transaction-cost comparisons or settlement benchmarks for Peso’s existing services. The company’s stated plans include developing payment connections that can operate alongside domestic banking systems.
Bolivia’s stablecoin adoption grows amid dollar shortages
Bolivia has seen growing interest in dollar-denominated digital assets amid restrictions on access to foreign currency and changes to the country’s financial system.
A July proposal to recognize USDT contemplated allowing the stablecoin to function as a payment option alongside the boliviano and U.S. dollar. The proposal did not itself establish USDT as legal tender.
In September, the country outlined tighter cryptocurrency oversight, including plans for a supervisory framework covering virtual assets and measures addressing illicit capital movements.
The Central Bank of Bolivia’s 2026 monetary program separately calls for stronger international reserves and changes to foreign exchange arrangements. The bank announced measures in September to make U.S. dollars available to financial institutions under its foreign exchange regulations.
Financial technology companies have continued developing products using stablecoins. On October 20, lending provider Tala announced a partnership with El Dorado to provide eligible wallet users with credit disbursed and repaid in USDT on the Tempo blockchain.
The service is initially intended for Bolivia, with further Latin American expansion planned.
Tether expands Latin American payments investments
Peso joins other payment companies receiving investment from Tether as the stablecoin issuer finances infrastructure connecting USDT with local accounts and payment networks.
On October 13, Tether backed EFY Finance’s expansion, supporting a payment provider whose network reaches local accounts in 17 countries, including Bolivia, Colombia and Mexico.
A separate investment in Saber Money’s payment operations was announced on October 16, supporting plans to develop banking relationships and regulatory licenses across Asia-Pacific and the Gulf region.
In Argentina, Tether previously made a reported $20 million investment in digital bank Ualá as part of its financing activities in Latin America.
The July investment in Ualá formed part of the bank’s $197 million fundraising round, which Allianz X led. Tether’s participation was reported separately from the round’s original announcement.
Be the first to comment