Tether Leads Peso Funding Round to Expand USDT Payments in Latin America

Tether has led a pre-seed round in Bolivian fintech Peso to expand infrastructure for its dollar-pegged USD₮ (USDT) stablecoin across four Latin American markets. Tether announced the round Oct. 21. It will support local on- and off-ramps in Bolivia, Brazil, Colombia and Argentina, along with Peso’s merchant point-of-sale network and virtual-account infrastructure. The investment amount was not disclosed. Peso is a Bolivian fintech with an app for dollar balances, payments and transfers. In Bolivia, it connects USDT to the banking system through QR and automated clearing house (ACH) rails. Users can also pay for Yango food orders with USDT.