Tether supports Peso to expand USDT payments, covering four Latin American countries.

Tether has led a round of financing with an undisclosed amount in pre-seed for Bolivian fintech company Peso, aiming to expand USDT payment services to four Latin American countries, including services that connect stablecoins with food delivery platforms and local banking networks.

• Tether led an undisclosed amount of pre-seed investment in Bolivian fintech company Peso, which is used to expand USDT payment services.
• Peso allows customers in Bolivia to use this dollar-pegged stablecoin to pay for Yango takeaway orders.
• The company connects stablecoin wallets with local bank transfers, QR code payments, and merchant payment terminals.
• This financing will support Peso's operations in Bolivia, Brazil, Colombia, and Argentina.
• This investment follows Tether's recent support for other payment providers in the Latin American market.

According to the announcement on October 21st from Tether, this investment will support Peso's operations in Bolivia, Brazil, Colombia, and Argentina. The funds will be used to pay for infrastructure, merchant services, and local currency exchange.

Peso Expands USDT Payment for Daily Use Scenarios

Peso operates a financial application that allows customers to hold USDT, conduct international transfers, make purchases, and utilize savings and investment services. The company connects digital dollar balances with the traditional payment systems used by consumers and businesses.

In Bolivia, Peso has integrated USDT payments with Yango, allowing customers to place orders and make payments directly using stablecoins through this delivery platform.

Announcements from Tether state that this integrated service has already been in place. However, neither company has disclosed the number of transactions processed, the number of restaurants involved, or the amount of payments completed through Yango.

Peso provides POS services and QR code payment for merchants, as well as virtual accounts registered in the name of customers. By connecting to Bolivia's banking system, users can transfer funds between USDT and local currencies through automated clearing houses.

The company plans to expand these services to its existing four markets, with a focus on developing local deposit and withdrawal arrangements, enabling businesses to accept stablecoin payments without having to rely entirely on cryptocurrency platforms for operations.

Tether did not disclose the investment amount, Peso valuation, or the identities of other participants.

Peso, the Chief Executive Officer and Co-Founder, Alejandro Ter, stated that the focus of the company's work is to make USDT available for daily consumption and international transfers.

“Latin Americans are already using USD ₮; what’s lacking is the infrastructure that would allow them to spend it seamlessly in their daily lives,” said Ter án.

Peso connects USDT with banking and merchant services

The planned expansion includes establishing new connections between stablecoins and local financial institutions, allowing users to convert between digital dollars and their home country's currencies.

According to Tether, this fintech company will develop its payment terminal network and virtual account infrastructure, while connecting settlement services in Bolivia, Brazil, Colombia, and Argentina.

Tether CEO Paolo Ardoino described this investment as support for payment infrastructure, which enables consumers to use USDT for consumption beyond cryptocurrency trading and savings applications.

“Peso is building an infrastructure for daily consumption, transforming USD ₮ from a savings tool into a payment channel that people rely on every day,” said Ardoino.

The announcement mentioned that the areas planned to be served by Peso include e-commerce, retail payments, online car-hailing, and banking services. However, the announcement did not announce any completed integrations with online car-hailing providers or other business partners besides Yango.

Tether has not yet provided a comparison of transaction costs or settlement benchmarks for the existing services of Peso. The company's plans include developing payment connections that can operate in parallel with domestic banking systems.

Bolivia increases the use of stablecoins amid a dollar shortage

Against the backdrop of restricted access to foreign exchange and changes in the country's financial system, Bolivia has seen an increase in interest in dollar-denominated digital assets.

A proposal put forward in July to recognize USDT envisioned using this stablecoin as a payment option alongside the Bolivian boliviano and the US dollar. The proposal itself did not establish USDT as legal tender.

In September, the country introduced stricter regulations on cryptocurrencies, including a regulatory framework plan for virtual assets and measures to address illegal capital flows.

The Central Bank of Bolivia's monetary plan for 2026 proposes separately to enhance international reserves and adjust foreign exchange arrangements. In September, the bank announced measures to provide US dollars to financial institutions in accordance with its foreign exchange regulations.

Fintech companies are still continuing to develop products that use stablecoins. On October 20th, lending provider Tala announced a partnership with El Dorado to offer credit to eligible wallet users, which is issued and repaid in USDT and operates on the Tempo blockchain.

The service was initially targeted at Bolivia, with plans to expand to more Latin American markets later on.

Tether Expands Payment Investments in Latin America

Peso has joined the ranks of other payment companies that have received investment from Tether. This stablecoin issuer is providing funding for the infrastructure that connects USDT with local accounts and payment networks.

On October 13th, Tether supported the expansion of EFY Finance, helping this payment provider to cover a local account network in 17 countries, including Bolivia, Colombia, and Mexico.

On October 16th, Tether also announced another investment in Saber Money's payment business, to support its plans for developing banking relationships and regulatory licenses in the Asia-Pacific and Gulf regions.

In Argentina, Tether was previously reported to have invested $20 million in the digital bank Ual as part of its financing activities in Latin America.

This July investment in Ual is part of a $197 million financing round for the bank, which was led by Allianz X. The participation of Tether was reported as information separate from the original announcement.