Tether has quietly deepened its footprint in Latin America’s fintech scene with a reported $20 million investment in Argentina’s digital bank Ualá, according to a Bloomberg report.
The contribution was part of Ualá’s $197 million equity round announced in March and led by Allianz X. Ualá had disclosed Tether as a participating investor at the time but did not reveal individual checks; Bloomberg later reported Tether’s stake at $20 million. The move adds another regional financial platform to Tether’s growing roster of stablecoin-focused investments.
The Ualá deal follows several recent Latin American plays by Tether. Earlier this month the company reportedly invested $20 million in Brazil’s Mercado Bitcoin to help expand blockchain infrastructure, tokenized assets, lending services and on‑chain capital markets across the region. A few months earlier Tether led a $14 million Series A in Argentine crypto payments startup Belo to support the roll‑out of crypto payment products and other financial services.
Beyond venture funding, Tether has been pushing USDT adoption for everyday payments in Latin America. Reports this week said Bolivian authorities are evaluating a proposal to recognize USDT alongside the boliviano and the U.S. dollar amid a persistent shortage of foreign currency; local banks Banco Unión and Banco FIE already offer USDT‑related services, according to prior coverage.
Tether’s strategy also targets enterprise payment rails and corporate treasury use cases. Last week it led a $7 million round for Pact Labs to integrate its USAT stablecoin into U.S. payroll systems — a potential entry point to a payroll market that processes more than $11 trillion annually. And earlier this month Hyundai Motor America and Hyundai Motor Mexico completed a pilot cross‑border treasury payment using USDT on the Avalanche blockchain: a $20,000 transfer reportedly settled in about seven minutes using settlement infrastructure from Axiym, with Hyundai Card managing compliance and operational requirements.
All these moves coincide with USDT’s continued dominance in the stablecoin market. CoinMarketCap put Tether’s market capitalization at roughly $184.4 billion at the time of reporting, underscoring the issuer’s growing influence across crypto, payments and enterprise settlement initiatives in the region.
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