Tether backs Peso to expand USD₮ payments infrastructure in Latin America

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Tether backs Peso in LatAm

Highlights

Tether led a pre-seed investment in Peso on 21 October 2026 to scale stablecoin-powered payment services and drive USD₮ adoption in Latin America.
Peso has integrated USD₮ payments into daily services like Yango in Bolivia, offering users global accounts, cross-border payments, and point-of-sale acceptance linked to the Bolivian banking system.
The funding will support Peso's expansion of USD₮ on- and off-ramps in Bolivia, Brazil, Colombia, and Argentina, advancing POS and virtual account infrastructure for broader stablecoin usage.

Funding supports regional payments rollout

According to Tether, Tether said on 21 October 2026 that it is leading a pre-seed investment in Peso, a Bolivian fintech focused on payments, savings and investments across Latin America. The company says the deal is meant to help Peso scale stablecoin-powered payment services and increase the use of USD₮ in everyday transactions across retail, institutions, e-commerce, food delivery, ride-hailing and banking channels.

Peso offers a global USD₮ account that allows users to save, spend, invest and send money across borders through a single app. The company has also integrated USD₮ payments into daily digital services, beginning with Yango in Bolivia, where users can order food and pay in USD₮ directly in the app.

Peso also provides point-of-sale acceptance and virtual accounts in a user's own name that connect USD₮ to the Bolivian banking system through QR and ACH rails. That setup is designed to let users move between stablecoins and local fiat more seamlessly.

Expansion targets Bolivia, Brazil and neighboring markets

The funding is set to support Peso's expansion of local on- and off-ramps in its active markets of Bolivia, Brazil, Colombia and Argentina. Tether says the plan will deepen USD₮'s role as a settlement layer linking local currencies while also advancing Peso's merchant-facing point-of-sale network and virtual account infrastructure.

Tether CEO Paolo Ardoino says Peso is building spending infrastructure that shifts USD₮ from a savings tool into a daily payments channel, in line with Tether's wider goal of promoting financial inclusion and faster, more interoperable financial services. Peso CEO and co-founder Alejandro Terán says the investment addresses a regional gap in infrastructure needed to spend USD₮ in everyday life, from QR-code payments to cross-border transfers.

The investment also fits Tether's broader strategy of backing platforms that link traditional finance with digital assets through blockchain-based payment services. For Latin American fintech and payments markets, the move underscores growing competition to make stablecoins usable not only for holding value, but also for routine consumer and merchant transactions.

Global cybersecurity and privacy startups attracted strong investor demand in Q3 2026, with total funding rising to $6.8 billion largely due to bigger late-stage rounds even as the number of deals declined. Our earlier article also noted heightened consolidation in the sector, alongside a broader venture trend toward fewer but larger mega-rounds as investors concentrate capital in select companies.

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