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Tether led a pre-seed round in Bolivian fintech Peso, the stablecoin giant said Oct. 21. The goal: push USDT payments into Bolivia, Brazil, Colombia and Argentina. The investment amount was not disclosed.
Why It Matters
This deal underscores how stablecoins are moving beyond trading venues and into everyday payments, especially in markets where cross-border transfers and local currency access remain frictions. It also signals Tether’s interest in building distribution and utility around USDT at the application layer, which could intensify competition among fintechs trying to turn stablecoins into a practical payments rail across Latin America.
Peso plans to put the money toward payment infrastructure, merchant services and local-currency conversion. Its financial app lets customers hold USDT, send money internationally, make purchases and tap into savings and investment products. It’s a broad pitch — basically a full-stack financial tool built around the stablecoin — and one that’s landing in markets where dollar-denominated digital assets have quietly become a fixture of daily financial life for millions of people.
No valuation figure. No round size.
USDT on Yango, Merchants and Bolivia’s Banking Rails
The most concrete thing Peso has running right now is a USDT payment integration inside Yango, the food delivery platform operating in Bolivia. Customers can already pay for food orders with the stablecoin through the app. That’s live. Tether’s announcement didn’t share transaction volumes, the number of restaurants involved or the total value of payments processed so far — so the scale of that rollout is pretty much unknown at this point.
Peso also offers merchants point-of-sale services and QR payments. Customers get virtual accounts registered in their names, linking the app to conventional payment rails rather than keeping everything siloed inside a crypto platform. Through connections to Bolivia’s banking system, users can move funds between USDT and local currency via automated clearing house transfers. Peso wants to build similar deposit and withdrawal setups across all four of its target markets.
The model is deliberately hybrid. Businesses can accept stablecoin payments without operating entirely within crypto ecosystems. Peso’s stated plan is to connect stablecoins with local financial institutions and bridge settlement services across Bolivia, Brazil, Colombia and Argentina — a significant technical and regulatory lift, even if the ambition is clear.
Tether said Peso intends to grow its payment-terminal network and virtual-account infrastructure. The announcement flagged e-commerce, retail payments, ride-hailing and banking services as sectors Peso wants to serve. But no new commercial integrations beyond Yango were announced. Ride-hailing connections? Not done yet. Other retail partners? Unclear.
What Terán and Ardoino Said
Peso CEO and co-founder Alejandro Terán said the company is focused on making USDT available for routine purchases and international transfers. His point: Latin Americans already use the stablecoin, but the infrastructure for everyday spending had been missing. That’s probably the most honest framing of the problem Peso is trying to solve. Holding USDT is easy. Spending it at a restaurant or paying a supplier with it? That’s been harder.
Tether CEO Paolo Ardoino described the investment as support for payment infrastructure that would let consumers use USDT beyond trading and savings. He didn’t give a timeline for Peso’s planned expansion or set specific launch dates for new services.
Bolivia’s regulatory picture is complicated. A July proposal floated the idea of recognizing USDT as a payment option alongside the boliviano and U.S. dollar — but it didn’t establish the stablecoin as legal tender. Then in September, Bolivia outlined tighter cryptocurrency oversight, including plans for a supervisory framework covering virtual assets and measures to address illicit capital movements. Tether’s announcement said nothing about how Peso’s services would interact with those new rules.
And the Central Bank of Bolivia’s 2026 monetary program calls for stronger international reserves and changes to foreign-exchange arrangements. Separately, the bank said in September it would make U.S. dollars available to financial institutions under its foreign-exchange regulations. Peso’s whole model — linking USDT balances with conventional payment systems — sits right in the middle of that shifting policy landscape.
Tether’s Broader Latin America Push
Peso isn’t the only recent bet Tether has made in the region. On Oct. 13, Tether backed EFY Finance, a payment provider whose network reaches local accounts in 17 countries, including Bolivia and Colombia. Three days later, on Oct. 16, a separate investment went to Saber Money, which is building banking relationships and chasing regulatory licenses in Asia-Pacific and the Gulf region.
In Argentina, Tether previously invested a reported $20 million in digital bank Ualá, part of a $197 million fundraising round led by Allianz X. That’s real money, and it shows the stablecoin issuer isn’t just dabbling — it’s building out a portfolio of fintech relationships across markets where dollar substitution is already happening organically.
Peso’s pre-seed round didn’t name any other investors. No co-investors, no angels, no strategic partners listed.
Frequently Asked Questions
Which countries will Peso expand into with Tether’s backing?
Peso plans to operate in Bolivia, Brazil, Colombia and Argentina, using the funding to build out payment infrastructure, merchant services and local-currency conversion in each market.
Is Peso’s Yango integration already live?
Yes. Peso has already integrated USDT payments into Yango in Bolivia, letting customers pay for food orders with the stablecoin, though transaction volumes and participating restaurant counts were not disclosed.
