Key Takeaways
- • Tether led an undisclosed pre-seed round in Bolivian fintech Peso, with the investment amount, valuation and other participants not disclosed.
- • Peso will use the funding to expand USDT on- and off-ramps in Bolivia, Brazil, Colombia and Argentina.
- • Peso is building merchant point-of-sale acceptance and virtual account infrastructure that links USDT to Bolivia's banking system via QR and ACH rails.
- • According to Tether, Peso has integrated USDT payments into Yango, a digital services platform in Bolivia, giving it a consumer distribution channel.
Summary
Tether, the stablecoin issuer, led a pre-seed round in Peso, a Bolivian fintech building USDT payment infrastructure across Latin America, the company announced on October 21. The investment amount, valuation and other participants were not disclosed.
Peso offers a USDT account that supports saving, spending, investing and cross-border transfers. Its product set includes point-of-sale acceptance and virtual accounts held in users' names. These accounts connect USDT holdings to Bolivia's banking system through QR and ACH payment rails.
According to Tether, Peso has integrated USDT payments into Yango, a digital services platform operating in Bolivia. The integration allows users to order food and pay within the app, giving Peso a distribution channel for everyday stablecoin spending alongside its banking connections.
The new capital will fund local on- and off-ramp expansion in Peso's active markets of Bolivia, Brazil, Colombia and Argentina. It will also support development of the company's merchant-facing point-of-sale network and virtual account infrastructure. The round is Tether's latest investment in payments infrastructure aimed at increasing USDT usability in Latin America.
Peso offers a USDT account that supports saving, spending, investing and cross-border transfers. Its product set includes point-of-sale acceptance and virtual accounts held in users' names. These accounts connect USDT holdings to Bolivia's banking system through QR and ACH payment rails.
According to Tether, Peso has integrated USDT payments into Yango, a digital services platform operating in Bolivia. The integration allows users to order food and pay within the app, giving Peso a distribution channel for everyday stablecoin spending alongside its banking connections.
The new capital will fund local on- and off-ramp expansion in Peso's active markets of Bolivia, Brazil, Colombia and Argentina. It will also support development of the company's merchant-facing point-of-sale network and virtual account infrastructure. The round is Tether's latest investment in payments infrastructure aimed at increasing USDT usability in Latin America.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.