Tether led a pre-seed funding round for Bolivian fintech company Peso to support its expansion across Latin America.
In its Wednesday announcement, Tether said this investment will help Peso expand its stablecoin payment infrastructure in Bolivia, Brazil, Colombia, and Argentina, including services that connect USDT with local currencies through banking and merchant payment systems.
Peso has integrated USDT payments into Yango’s food delivery service in Bolivia, allowing customers to pay for orders using this stablecoin. The fintech company also offers QR code payments, point-of-sale services for merchants, and virtual accounts linked to Bolivia’s banking system via ACH transfers. Tether did not disclose the investment amount.
This investment comes as other fintech companies are also expanding USDT-based financial services in Bolivia. On Tuesday, lending platform Tala announced a partnership with El Dorado to provide credit directly through digital wallets, allowing eligible customers to receive and repay loans in USDT on the Tempo blockchain.
Amid dollar shortages, Bolivia turns to stablecoins
Since 2025, Bolivia has increasingly turned to stablecoins due to prolonged U.S. dollar shortages and high inflation; as acquiring foreign currency has become more difficult, businesses have begun accepting USDT as a payment method.
In November 2025, the government announced plans to integrate cryptocurrencies and stablecoins into the financial system, including permitting banks to provide digital asset custody and financial products linked to cryptocurrencies.
Subsequently, in July 2026, the government began considering a regulatory framework to recognize USDT alongside the Boliviano and the US dollar for use in payments, savings, and trade.
According to a July report by Cointelegraph, this proposal emerged as Bolivia continued to face a dollar shortage following its abandonment of its long-standing exchange rate peg in June, fueling demand for dollar-denominated alternatives such as USDT.
Magazine: Agents can trade 24/7—but Yat Siu warns you may lose access at any time.