Tether invests in EFY Finance, accelerating the adoption of USD₮ in payment scenarios for institutions in Latin America

Stablecoin issuer Tether announced an investment in the Latin American financial infrastructure company EFY Finance's seed round financing to promote the application of USD₮ and USA₮ in the institutional sector. Tether stated that this investment aims to strengthen the connection between stablecoins and the traditional financial system, supporting EFY Finance in developing cross-border payment, account services, and digital asset custody infrastructure based on stablecoins.

Tether CEO Paolo Ardoino stated that several regions in Latin America are facing inflation and capital control pressures, and dollar stablecoins are becoming a tool for accessing dollar liquidity, while compliant infrastructure and banking connections are key to expanding applications. EFY Finance currently offers deposit/withdrawal services for USD₮ and USA₮, over-the-counter (OTC) trading, wallet, and payment card services, covering local settlement channels for 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 corporate accounts.