Tether has invested in Latin American fintech company EFY Finance through its seed funding round, aiming to expand institutional access to USDT and USAT stablecoin payments across 17 countries.
Tether announced the investment on October 13, saying the funding would support EFY Finance’s infrastructure for international payments, digital asset custody and connections to local banking systems. EFY Finance reports more than 25,000 active individual and business accounts, although the companies have not disclosed the investment amount, total funding raised or EFY’s valuation.
EFY Finance provides payment services that help businesses and financial institutions transfer money using dollar-backed stablecoins. Its infrastructure connects digital assets with traditional banking systems, allowing customers to receive, convert and settle payments through local financial networks.
The company supports USDT and USAT transactions, offers conversion services across more than 12 currencies and payment corridors, and provides digital wallets, payment cards, custody and over-the-counter trading services. Its network supports local account settlement in 17 countries, including Bolivia, Colombia, Mexico, El Salvador, Panama and Ecuador.
The investment will help EFY develop its institutional services and strengthen connections between stablecoins and local banking systems. However, the companies have not announced a timeline for new products or expansion into additional markets.
EFY Finance operates under a Digital Asset Service Provider license in El Salvador. Tether highlighted the company’s existing customer base, banking connections and regulatory arrangements as factors supporting its growth.
The investment comes as demand for stablecoin payments continues to grow across Latin America. Businesses can use dollar-backed tokens to transfer funds across borders, while individuals may use them to access dollar-denominated assets in countries facing inflation, currency volatility or capital controls.
EFY Finance CEO and co-founder Andrés Tobón said the company aims to connect digital currencies with the financial services businesses already use, including bank accounts, payment cards and cross-border settlement systems.
Tether CEO Paolo Ardoino also pointed to economic uncertainty and restrictions on capital movements as reasons for demand for dollar-backed stablecoins. He said EFY’s existing financial connections could help extend access to these services.
The partnership covers two stablecoins with different structures. USDT is Tether’s established dollar-pegged cryptocurrency, while USAT is a U.S.-focused stablecoin issued by Anchorage Digital Bank, N.A., with Tether’s support.
USAT is not legal tender, is not guaranteed by the U.S. government and does not carry Federal Deposit Insurance Corporation insurance protection, according to Tether’s announcement.
The companies have not specified which blockchain networks EFY will use for future payment products. They have also not disclosed expected transaction volumes, new institutional customer commitments or projected revenue from the investment.
The deal follows several years of growth in Latin American cryptocurrency activity. Blockchain analytics firm Chainalysis reported nearly $1.5 trillion in cryptocurrency transaction volume across the region between July 2022 and June 2025. Its research identified inflation, currency volatility and capital controls among the factors associated with crypto adoption.
Brazil accounted for $318.8 billion in cryptocurrency value received during the report’s measurement period. Argentina recorded $93.9 billion, followed by Mexico with $71.2 billion, Venezuela with $44.6 billion and Colombia with $44.2 billion.
Chainalysis also found that stablecoins accounted for more than half of exchange purchases involving the Colombian peso, Argentine peso and Brazilian real between July 2024 and June 2025. These figures reflect exchange order-book data rather than all cryptocurrency transactions in those countries.
Tether has continued exploring institutional payment arrangements beyond Latin America. In July 2026, Hyundai Motor’s U.S. and Mexican operations completed a pilot that used USDT to transfer $20,000 over the Avalanche blockchain. The transaction reportedly settled in about seven minutes, after which the receiving operation converted the stablecoins back into conventional currency.
The EFY investment differs from that pilot because it provides funding for an existing payments business rather than supporting a single transaction. Its focus is on expanding the infrastructure that connects stablecoins with banking accounts, local settlement networks and international transfers.
For now, Tether and EFY Finance have confirmed the investment and their intention to expand institutional stablecoin services, but they have not announced specific launch dates or financial targets for the next phase.
