Tether has invested in Latin American fintech EFY Finance through its seed funding round, seeking to expand institutional access to USDT and USAT stablecoin payments across 17 countries. The investment was announced on October 13, 2026, although Tether did not disclose the amount, EFY Finance’s valuation, or total seed funding.
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 platform supports USDT and USAT, with conversion services across more than 12 currencies and payment corridors, and offers digital wallets, payment cards, over-the-counter trading, custody, and fiat-to-stablecoin conversion services.
According to Tether, EFY Finance serves more than 25,000 active individual and business accounts and operates across several Latin American markets, with local account settlement reaching 17 countries. Established markets include Bolivia, Colombia, Mexico, El Salvador, Panama and Ecuador, where EFY intends to develop additional institutional services. EFY Finance operates under a Digital Asset Service Provider license in El Salvador.
Tether CEO Paolo Ardoino pointed to inflation and capital controls as reasons Latin American customers seek access to U.S. dollar-backed assets. EFY Finance co-founder and CEO Andrés Tobón said the company’s priority is connecting digital currencies with banking systems businesses already use, linking stablecoins to accounts, cards and cross-border settlement.
The expansion involves two stablecoins: USDT, Tether’s established dollar-pegged cryptocurrency, and USAT, a U.S.-focused stablecoin issued by Anchorage Digital Bank, N.A., with Tether’s support. Tether’s announcement states USAT is not legal tender, is not guaranteed by the U.S. government and does not carry FDIC insurance protection.
The investment follows broader Latin American crypto growth. Chainalysis recorded nearly USD 1.5 trillion in cryptocurrency transaction volume in Latin America between July 2022 and June 2025. Brazil accounted for USD 318.8 billion, Argentina USD 93.9 billion, Mexico USD 71.2 billion, Venezuela USD 44.6 billion and Colombia USD 44.2 billion. Stablecoins represented more than half of exchange purchases involving the Colombian peso, Argentine peso and Brazilian real between July 2024 and June 2025. Bitso’s 2025 adoption report found dollar-backed tokens represented 40% of crypto purchases on its platform, compared with Bitcoin’s 18%.
Tether also cited previous regional activity, including its reported USD 20 million investment in Argentine digital bank Ualá in July 2026 and a Hyundai Motor pilot that transferred USD 20,000 in USDT over the Avalanche blockchain, settling in approximately seven minutes. Unlike that defined transaction, the EFY agreement is focused on funding infrastructure and future institutional services, with no disclosed deadlines or new product launch schedule.
