ChainCatcher report: Stablecoin issuer Tether has announced an investment in the seed round of Latin American financial infrastructure company EFY Finance to promote the adoption of USD₮ and USA₮ in institutional markets. Tether stated that this investment aims to strengthen the connection between stablecoins and the traditional financial system, supporting EFY Finance in developing stablecoin-based cross-border payment, account, and digital asset custody infrastructure. Tether CEO Paolo Ardoino said that many regions in Latin America face pressure from inflation and capital controls, making dollar-denominated stablecoins an increasingly vital tool for accessing dollar liquidity, with compliant infrastructure and banking connections being key to scaling adoption. EFY Finance currently offers deposit and withdrawal services for USD₮ and USA₮, over-the-counter (OTC) trading, wallets, and payment cards, with local settlement channels supporting more than 12 currencies across 17 countries. The company has obtained a digital asset service provider license in El Salvador and serves over 25,000 individual and business accounts.
Tether Invests in EFY Finance to Expand USD₮ Adoption in Latin American Institutional Payments
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Summary
Tether has invested in EFY Finance’s seed round to promote the adoption of USD₮ and USA₮ in Latin American institutional payments. The partnership supports cross-border transactions, custody, and account services. Tether CEO Paolo Ardoino highlighted how dollar-pegged stablecoins help combat inflation and capital controls in the region. EFY Finance offers USD₮ and USA₮ services across 17 countries and holds a license in El Salvador. With altcoins to watch gaining traction, the firm serves over 25,000 accounts. The Fear and Greed Index remains a key metric for traders monitoring market sentiment.
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