Tether, the issuer of the USDT stablecoin, has led a pre-seed funding round for Bolivian fintech Peso, a company building payment infrastructure designed to connect USDT with merchants, banking networks, and consumer applications. The announcement was made on October 21, 2026.

Pre-seed rounds sit at the earliest end of the startup funding ladder, and this investment pushes the dollar-pegged stablecoin further into everyday payments across Latin America, where Peso is already facilitating USDT transactions through QR payments, banking rails, virtual accounts, and food delivery services. The company said the new capital will fund growth in Bolivia, Brazil, Colombia, and Argentina.

Tether announced the investment in a post on X:

Tether Invests in Peso to Expand USD₮ Payment Infrastructure Across Latin America

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— Tether (@tether) October 21, 2026

X post: https://x.com/tether/status/2112897544573325635?ref_src=twsrc%5Etfw

Tether Targets Everyday USDT Payments

The Peso application combines saving, spending, investing, and cross-border transfers, and gives users access to a USDT account from anywhere in the world. The company is developing USDT infrastructure intended to move beyond crypto wallets and into services that consumers already use.

For example, Peso has partnered with Yango in Bolivia, enabling users of the platform to place food orders and pay for them directly within the app using USDT.

The fintech also supports merchant point-of-sale transactions and virtual accounts registered under consumers' names. These accounts allow users to swap between USDT and Bolivia's local currency via QR and ACH rails, letting customers move between stablecoins and local money. Tether did not disclose the size of the investment.

USDT Connects Wallets With Local Banking Rails

The deal centers on keeping USDT simple to use without requiring anyone to abandon existing payment networks. Rather than limiting the stablecoin to crypto-native transactions, Peso's model links stablecoin balances with local financial infrastructure.

This makes it possible for a user to hold USDT, pay a business, send money from one country to another, or push funds into local banking channels — all from the same account. In practice, everyday spending depends on the last step: turning a balance someone holds into a purchase at a local counter, and supplying that step is what Peso's infrastructure is designed to do. Tether CEO Paolo Ardoino said the investment is intended to support infrastructure that allows USDT to become a payments tool in everyday life.

Peso Plans Expansion Across Four Markets

With the new funding, Peso is expanding on-ramps and off-ramps in Bolivia, Brazil, Colombia, and Argentina. The company will use USDT as a settlement channel to link different local currencies and will develop its own merchant solutions.

Peso also plans further investment in point-of-sale infrastructure and expanded virtual account services for both consumer and business users. Those rollout markers — new on-ramps and off-ramps, merchant tools, and banking connections in each market — are the concrete signs to watch as the four-market expansion proceeds.

The deal aligns with a broader Tether strategy of backing payments platforms that connect the traditional economy with blockchain payments. Beyond supporting the trading of crypto assets, Tether is funding infrastructure for retail purchases, e-commerce, transportation, banking access, and cross-border transfers.

Tether Deepens USDT's Role in Latin America

Dollar-linked stablecoins have emerged as an attractive solution for users in Latin America seeking stable value, quicker onboarding, and faster cross-border settlement. According to Peso, the missing piece has not been adoption, but the infrastructure needed to spend stablecoins within the local economy.

“Many users are already holding USDT in this region while what has been lacking is the ease of infrastructure to spend USDT in daily life,” said Alejandro Terán, Peso's CEO and co-founder.

With Tether now backing the company, Peso plans to accelerate its rollout across multiple markets and make USDT usable through QR payments, merchant systems, digital services, and local banking connections.

Source: Crypto Ninjas — Tether Backs Peso to Expand USDT Payments Across 4 Major Latin American Markets