Tether announced an investment in EFY Finance as part of its seed funding round to expand institutional use of the USDT and USAT stablecoins in Latin America. The investment aims to strengthen services connecting digital assets with banks, businesses, and traditional payment systems.
EFY Finance provides infrastructure for cross-border payments, accounts, and digital asset custody. Its services include conversions between local currencies and stablecoins, OTC trading, wallets, and cards, supporting more than 12 currencies and payment corridors.
The company enables settlements to local bank accounts in 17 countries and manages more than 25,000 active individual and business accounts. It is also licensed as a digital asset service provider in El Salvador.
Tether’s investment will allow EFY Finance to expand its services, particularly in Bolivia, Colombia, Mexico, El Salvador, Panama, and Ecuador, where it already operates.
Paolo Ardoino, CEO of Tether, said the U.S. dollar serves as a hedge against inflation and capital controls in several Latin American countries. According to the executive, making USDT and USAT more accessible requires regulated infrastructure and connections to the banking system.
Meanwhile, Andrés Tobón, co-founder and CEO of EFY Finance, explained that the company is working to integrate stablecoins with bank accounts, local payment networks, cards, and cross-border settlement services.
According to Chainalysis data, Latin America recorded nearly $1.5 trillion in cryptocurrency transactions between July 2022 and June 2025.
The report also notes that stablecoin purchases account for more than half of all purchases made on exchanges in the region.
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