Tether invests in stablecoin payments across 17 countries
Tether has invested in Latin American financial technology company EFY Finance through its seed funding round, seeking to expand institutional access to USDT and USAT stablecoin payments across 17 countries.
Summary
- Tether invested in EFY Finance’s seed round to expand institutional stablecoin services across Latin America.
- EFY Finance supports local account settlement across 17 countries and reports more than 25,000 accounts.
- EFY offers stablecoin payments, custody, wallets, cards, and conversion services across multiple Latin American markets.
- Tether did not disclose its investment amount, EFY Finance’s valuation, or the total seed funding.
- Chainalysis recorded nearly USD 1.5 trillion in Latin American cryptocurrency transactions across three reporting years.
Tether announced the investment on October 13, confirming that the funding would support EFY Finance’s infrastructure for international payments, digital asset custody and connections to local banking systems. The company serves more than 25,000 active individual and business accounts and operates across several Latin American markets. Financial details, including Tether’s investment amount and EFY’s valuation, were not disclosed.
Tether investment targets stablecoin payments in Latin America
According to the announcement, EFY Finance provides payment infrastructure that allows businesses and financial institutions to move funds using dollar-backed stablecoins. Its services connect digital assets with traditional bank accounts, enabling customers to receive, convert and settle payments through local financial networks.
The company supports transactions involving USDT and USAT, with conversion services across more than 12 currencies and payment corridors. Customers can access digital wallets, payment cards, over-the-counter trading services and infrastructure for converting conventional money into stablecoins or exchanging stablecoins for local currencies.
EFY’s settlement network currently reaches local accounts in 17 countries, according to figures disclosed by Tether. Its established markets include Bolivia, Colombia, Mexico, El Salvador, Panama and Ecuador, where the company intends to develop additional institutional services.
The funding forms part of EFY Finance’s seed round, although Tether did not identify other investors or specify how much capital the round raised. Neither company announced a timetable for launching new products or entering additional countries.
EFY Finance operates under a Digital Asset Service Provider license in El Salvador. Tether identified the company’s existing customer relationships, banking connections and regulatory arrangements as reasons for supporting its expansion.
The investment follows Tether’s previous involvement in Latin American financial technology investments, including its reported USD 20 million investment in Argentine digital bank Ualá in July 2026. That investment formed part of a larger funding round involving institutional investors and financial services companies.
EFY Finance plans to connect stablecoins with banking services
EFY Finance focuses on making digital assets usable through familiar financial services, including corporate accounts, local payment networks and international transfers.
The company’s infrastructure allows customers to exchange stablecoins for traditional currencies and settle funds into local accounts. Its custody services support institutions handling digital assets, while its payment tools provide access to services used by businesses and individuals.
EFY Finance co-founder and CEO Andrés Tobón said the company’s priority is connecting digital currencies with the banking systems businesses already use. He described the work as linking stablecoins to accounts, cards and cross-border settlement arrangements.
Tether CEO Paolo Ardoino pointed to inflation and capital controls as reasons some Latin American customers seek access to U.S. dollar-backed assets. He said EFY Finance was positioned to improve access through regulated infrastructure and existing financial networks.
The proposed expansion involves two different stablecoins. USDT is Tether’s established dollar-pegged cryptocurrency, while USAT is a U.S.-focused stablecoin issued by Anchorage Digital Bank, N.A., with Tether’s support.
Tether’s official announcement identifies Anchorage as a federally chartered bank. It states that USAT is not legal tender, is not guaranteed by the U.S. government and does not carry Federal Deposit Insurance Corporation insurance protection.
In September, Anchorage Digital selected LayerZero as an interoperability provider for its bank-issued stablecoins, including USAT. The Anchorage Digital stablecoin infrastructure agreement involved technology intended to support transfers across multiple blockchain networks.
The October 13 announcement did not identify which blockchains EFY Finance would use for new payment products. It did not disclose projected transaction volumes, institutional customer commitments or expected revenue from the investment.
Latin America recorded nearly USD 1.5 trillion in crypto activity
The investment comes after several years of cryptocurrency growth across Latin America, where stablecoins have become a widely used option for international payments and access to dollar-denominated assets.
Blockchain analytics firm Chainalysis reported that Latin America recorded nearly USD 1.5 trillion in cryptocurrency transaction volume between July 2022 and June 2025. Its October 2025 study identified inflation, currency volatility and capital controls among the factors associated with cryptocurrency adoption.
The report found that Brazil accounted for USD 318.8 billion in cryptocurrency value received during its regional measurement period. Argentina recorded USD 93.9 billion, followed by Mexico at USD 71.2 billion, Venezuela at USD 44.6 billion and Colombia at USD 44.2 billion.
Stablecoins accounted for more than half of exchange purchases involving the Colombian peso, Argentine peso and Brazilian real between July 2024 and June 2025. Chainalysis based those figures on exchange order-book data, which does not represent every cryptocurrency transaction conducted in those countries.
Separate industry data has shown continued demand for stablecoin purchases through regional exchanges. Bitso’s 2025 adoption report, examined in coverage of stablecoin purchases across Latin America, found that dollar-backed tokens represented 40% of cryptocurrency purchases on its platform, compared with Bitcoin’s 18%.
The Chainalysis figures describe regional cryptocurrency activity and do not measure EFY Finance’s transaction volume or the expected financial return from Tether’s investment.
Tether continues expanding business payment infrastructure
Tether has pursued other institutional payment arrangements involving cross-border settlement and corporate treasury services.
In July 2026, Hyundai Motor’s U.S. and Mexican operations completed a pilot using USDT to transfer USD 20,000 over the Avalanche blockchain. The reported transaction settled in approximately seven minutes, according to the companies.
The Hyundai stablecoin payment trial involved converting U.S. dollars into USDT before transferring the tokens between participating business entities. The receiving operation converted the stablecoins back into conventional currency.
Tether’s October 13 investment provides financial backing to an existing payments business serving Latin American customers. Unlike the Hyundai pilot, which involved a defined transaction, the EFY agreement concerns funding for infrastructure and future institutional services.
The companies have not disclosed implementation deadlines, additional regulatory approvals or new products scheduled to launch under the agreement.
EFY Finance said it would continue developing connections between digital dollar payments, banking accounts and local settlement networks. Tobón identified institutional access to USDT and USAT as an area for expansion, while the company’s existing services include custody, accounts, wallets, cards and currency conversion across its supported markets.
