Tether announces investment in Peso to expand USDT payments and fiat on/off-ramp network in Latin America.

October 21: Tether announced it led the Pre-Seed funding round of Bolivian fintech company Peso, supporting its expansion of stablecoin payment infrastructure in Latin America and promoting the use of USDT in everyday scenarios such as retail, e-commerce, food delivery, ride-hailing, and bank payments.

Peso offers a USDT account that integrates savings, spending, investment, and cross-border transfers, and connects USDT with the Bolivian banking system through QR codes and the ACH payment network, enabling conversion between stablecoins and the local fiat currency. Peso has also integrated USDT payments into the digital services platform Yango, and users can now directly use USDT to pay for food delivery orders within the app.

The funds from this round will be used to expand Peso's local fiat on-ramp and off-ramp channels in Bolivia, Brazil, Colombia, and Argentina, and to advance the construction of a merchant-facing POS collection network and virtual account infrastructure. Tether CEO Paolo Ardoino said that Peso is building infrastructure for everyday consumption, transforming USDT from a savings tool into a payment channel that users use daily.