TL;DR
- Tether led a funding round for Peso, a Bolivian fintech developing USDT-based financial services and payment solutions across Latin America.
- The investment will support the expansion of merchant payment infrastructure, virtual accounts, and conversions between stablecoins and local currencies.
- Peso operates in Bolivia, Brazil, Colombia, and Argentina, and already allows users in Bolivia to pay for food orders with USDT through the Yango app.
Tether led a pre-seed funding round for Peso, a Bolivian fintech developing infrastructure for USDT payments across Latin America. The investment aims to encourage the use of the stablecoin in retail businesses, digital platforms, and financial services.
The company did not disclose the investment amount. The funding will allow Peso to expand its services in Bolivia, Brazil, Colombia, and Argentina, where it is working to connect stablecoins with local payment systems.
Peso offers a USDT-denominated account that allows users to save, invest, make payments, and send money internationally through a single application.
The fintech is also developing tools that allow merchants to accept stablecoin payments without relying exclusively on transfers between cryptocurrency wallets.
Tether Expands USDT Adoption Among Latin American Merchants
One of Peso’s first commercial payment services operates through Yango, a digital platform available in Bolivia that allows users to order food and pay directly with USDT.
The company also offers point-of-sale terminals and virtual accounts in users’ own names, connected to Bolivia’s banking system through QR codes and ACH transfers.
This infrastructure allows users to convert funds between USDT and local currencies, as well as use stablecoins to pay for everyday goods and services.
Paolo Ardoino, CEO of Tether, explained that Peso is developing tools to expand USDT’s use beyond savings and make it a practical option for everyday payments.
Peso to Expand Its Banking and Payment Infrastructure
The funding will support the development of new connections between local currencies and USDT across the four markets where Peso operates.
The company will also expand its merchant payment acceptance network and virtual account infrastructure, making it easier to move funds between stablecoins and traditional banking systems.
Alejandro Terán, CEO and co-founder of Peso, said many Latin Americans already use USDT but still face difficulties spending it directly at businesses and through applications.
According to Terán, the investment will accelerate the development of services that allow users to open accounts in minutes, pay through QR codes, and make international transfers.
