Tether backs Peso to expand USD₮ payments across Latin America

Tether said on 21 October 2026 that it led the pre-seed round in Peso, a Bolivian fintech, to expand USD₮-based payment infrastructure across Latin America. The company said the investment is intended to broaden access to faster, lower-cost stablecoin payments and support everyday use cases spanning retail, e-commerce, food delivery, ride-hailing and banking rails.

Evidence and context

According to Tether’s announcement dated 21 October 2026, Peso offers a global USD₮ account that allows users to save, spend, invest and send money across borders from a single app. The company also said it has integrated USD₮ payments into Yango, a digital services platform operating in Bolivia, allowing users to order food and pay in USD₮ directly in the app. Tether said the funding will support Peso’s expansion of local on- and off-ramps in Bolivia, Brazil, Colombia and Argentina.

The announcement also said Peso provides point-of-sale acceptance and virtual accounts in the user’s own name, connecting USD₮ to the Bolivian banking system through QR and ACH rails. Tether framed the investment as part of its broader effort to connect traditional finance and digital assets through stable, liquid payment tools. The company did not disclose the size of the pre-seed round in the material provided.

Peso co-founder and chief executive Alejandro Terán said the investment would help accelerate the company’s push to make account opening and USD₮ spending easier for users in the region. Tether chief executive Paolo Ardoino said the deal supports its goal of promoting financial inclusion and making stablecoin-powered payments more practical. These statements come from the companies involved and should be read as their strategic positioning rather than independent performance assessments.

As of 21 October 2026, market data supplied for USD₮ showed a price of $0.9990, a 24-hour change of -0.00% and a market capitalization of $182.766 billion. USD₮ is a dollar-pegged stablecoin rather than an equity interest in Tether.