Original sourceOlivia Stephanie
Summary
Tether has invested in EFY Finance to expand stablecoin-based payments across 17 Latin American markets. EFY offers payments, custody, wallets and cards, using USDT and USAT to move funds, supporting conversion in more than 12 currencies and settlement to local bank accounts. The seed round amount…
Key points
- Latin America is the most active region for stablecoin payments in emerging markets, and this deal shows Tether extending from issuance into local payments and banking rails.
- By investing in a local payments firm, Tether is pushing USDT further into Latin American cross-border payments and bank settlement scenarios.
- Enterprises and migrant workers with cross-border collection and payment needs in Latin America may in future receive and send via EFY in stablecoins settled to local bank accounts, with potential cost and speed improvements, though regulatory and custody arrangements still bear watching.
Editorial note
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