Tether has led a pre-seed funding round in Bolivian fintech Peso to expand USDT payments across Bolivia, Brazil, Colombia, and Argentina. The investment will support links between stablecoins, local banks, and merchant payment services, including existing food delivery transactions.
Tether announced the financing on October 21 but did not disclose its value, Peso’s valuation, or other investors. The funds will also strengthen deposit and withdrawal services that link USDT holdings with domestic currencies.
Peso offers an app that lets customers hold USDT, send money abroad, make purchases, and access savings and investment services. Its wider plan centers on making digital dollar balances usable through ordinary financial networks rather than cryptocurrency platforms alone.
Peso Connects USDT to Food Delivery and Local Banks
In Bolivia, Peso has integrated USDT payments with Yango. Customers can order food through the delivery platform and pay directly with the stablecoin. The service already operates, although the companies have not released transaction counts, participating restaurant totals, or payment volumes.
Alongside consumer payments, Peso provides merchants with point-of-sale services and QR payment tools. Customers can also open virtual accounts in their names. These products connect the app to established banking channels and give businesses more ways to receive funds. They also help merchants take stablecoin payments without shifting their entire operations away from traditional financial services.
Through Bolivia’s banking system, the peso supports transfers between USDT and local currency using automated clearinghouse services. The arrangement links digital dollars with domestic accounts, giving customers a route to deposits and withdrawals without relying only on crypto exchanges.
How Will Peso Extend USDT Payments Across Four Markets?
The funding will support payment terminals, merchant services, and local currency conversion in Peso’s four existing markets. Its expansion will focus on local deposit and withdrawal options for businesses that use stablecoins alongside existing domestic banking systems. Tether also expects the company to expand virtual accounts and connect settlement services with more local financial institutions.
Peso CEO and co-founder Alejandro Terán said Latin Americans already use USDT but need easier ways to spend it in daily life. Tether CEO Paolo Ardoino likewise described the investment as support for moving stablecoins beyond savings and trading into everyday purchases.
The announcement identified retail, e-commerce, ride-hailing, and banking among the sectors it aims to serve. Still, the announcement confirmed no new ride-hailing integration or commercial partner beyond Yango. Tether also supplied no comparisons of transaction costs or settlement speeds.
Read More: Tether CEO Disputes Senate Iran Probe, Cites 94% Drop in Stablecoin Volumes
Bolivia’s Dollar Demand Shapes Stablecoin Expansion
Bolivia has seen increasing interest in dollar-linked digital assets amid limited access to foreign currency. In July, a proposal was considered allowing USDT payments alongside the boliviano and U.S. dollar. That proposal did not make the stablecoin legal tender.
In September, Bolivian authorities outlined tighter oversight of virtual assets and measures against illicit capital movements. Separately, the central bank’s 2026 monetary program called for stronger international reserves and changes to foreign exchange arrangements. The bank also announced measures to supply dollars to financial institutions.
Other companies have expanded stablecoin services in the country. On October 20, lending provider Tala announced a partnership with El Dorado. Their planned service would let eligible wallet users receive and repay credit in USDT on the Tempo blockchain, initially in Bolivia.
Meanwhile, Tether has funded other firms building connections between stablecoins and banking systems. On October 13, it backed EFY Finance, whose payment network reaches accounts in 17 countries, including Bolivia, Colombia, and Mexico.
Three days later, Tether announced an investment in Saber Money’s payment operations, supporting planned banking relationships and regulatory licenses across Asia-Pacific and the Gulf. In Argentina, Tether reportedly invested USD 20 million in Ualá during its July fundraising round. Allianz X led that USD 197 million round. Reports of Tether’s participation followed the bank’s original fundraising announcement.
Conclusion
Tether’s investment will support Peso’s expansion of USDT payments across four Latin American countries, connecting digital dollar balances with local banking and merchant services. Its Yango food delivery integration already operates in Bolivia, while planned payment terminals, virtual accounts, and currency conversion services form the next stage of development.