Tether Leads Peso's Pre-Seed Round, Driving USDT Adoption in Latin American Daily Payment Scenarios

On October 21, Tether announced it led the Pre-Seed funding round for Bolivian fintech company Peso, aiming to help expand its low-cost stablecoin-based payment services and promote the daily use of USDT across retail, institutional, e-commerce, food delivery, ride-hailing, and banking payment systems.

Peso offers USDT-based global accounts, allowing users to complete savings, spending, investments, and cross-border transfers within a single application. It has partnered with Yango in Bolivia, enabling users to pay for food delivery directly in-app using USD₮. At the same time, Peso also provides merchant POS collection and verified virtual accounts, connecting to Bolivia's banking system through QR codes and ACH channels to facilitate conversions between USDT and local fiat currencies.

This round of funding 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 infrastructure development of its merchant POS network and virtual accounts.