Tether Leads Peso's Pre-Seed Round to Expand USDT Payments in Latin America

Tether announced it led a pre-seed funding round in Peso, a Bolivian fintech, to enhance USDT payment infrastructure in Latin America. The investment aims to facilitate the use of USDT for everyday transactions such as purchasing lunch, paying merchants, and transferring funds to local bank accounts. Financial terms of the investment were not disclosed. Peso's offerings include USDT accounts, point-of-sale acceptance, and virtual accounts linked to Bolivia's banking system via QR and ACH payment methods. Additionally, Peso plans to integrate USDT payments for food orders through Yango in Bolivia. The funding will support the development of local on- and off-ramps in Bolivia, Brazil, Colombia, and Argentina, as well as improve merchant and account infrastructure. The effectiveness of this investment will depend on the actual usage of these services and the costs associated with transactions, which remain unspecified in the announcement.

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