Odaily Planet Daily reports that 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 infrastructure for stablecoin-based cross-border payments, account services, and digital asset custody. 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 covering more than 12 currencies and 17 countries. The company has obtained a digital asset service provider license in El Salvador and serves over 25,000 individual and business accounts.