FundraiseOct 23, 2026, 14:50 UTC

Tether leads seed round for Bolivian fintech Peso to push USDT into daily payments

What's the deal? Tether has led a seed round in Peso, a Bolivian fintech company building USDT-based consumer payments across Latin America. The round was announced in October 2026; the amount and valuation were not disclosed.

What does Peso do? It offers a USDT account that combines savings, spending, investing, and cross-border transfers. The company connects to Bolivia's banking system through QR codes and the ACH payment network, supporting exchanges between stablecoins and local fiat.

What's the money for? Peso plans to expand local fiat on- and off-ramps in Bolivia, Brazil, Colombia, and Argentina. It will also build a merchant-facing POS payment network and virtual account infrastructure.

What's the endgame? The goal is to move USDT beyond dollar savings and transfers into everyday spending. Peso has already integrated USDT payments into the Yango platform, letting users pay for food delivery orders directly in the app.

Tether chief executive officer Paolo Ardoino said Peso is building infrastructure to promote USDT "as a daily payment channel."

Why now? The deal extends Tether's recent push into Latin American financial services. In recent months it backed Colombian fintech Plenti's $3 million seed round, invested in regional payments provider EFY Finance, and committed $20 million to Brazil's Mercado Bitcoin.

The signal: Peso gives Tether another local distribution channel in a region where access to dollars and cross-border payments are strong stablecoin use cases. The significance here is strategic rather than financial — each deal plants USDT deeper into everyday commerce across Latin America.