Tether has led a pre-seed funding round for Peso, a Bolivian fintech building USDT-based payment and financial infrastructure across Latin America. The investment amount was not disclosed. The capital will support expansion in Bolivia, Brazil, Colombia, and Argentina, where Peso is working to connect stablecoins with local payment systems.
Peso offers a USDT-denominated account that lets users save, invest, pay, and send money internationally through a single application. The fintech is also developing merchant tools that accept stablecoin payments without requiring direct wallet-to-wallet transfers.
One of Peso’s first commercial services runs through Yango, a digital platform in Bolivia that allows users to order food and pay directly with USDT. Peso also provides point-of-sale terminals and virtual accounts in users’ own names, connected to Bolivia’s banking system via QR codes and ACH transfers, enabling conversions between USDT and local currencies.
Tether CEO Paolo Ardoino said the collaboration is aimed at moving USDT beyond savings and making it practical for everyday payments. Peso CEO Alejandro Terán added that many Latin Americans already hold USDT but struggle to spend it directly at businesses and through apps, and the funding will accelerate QR-based payments, instant account opening, and international transfers.
