Tether Invests in EFY Finance for Stable Payments in Latin America

Tether announced on October 13 an investment in Latin American fintech EFY Finance as part of its seed round. The funds will be used for international payment infrastructure, digital asset custody, and connections with local banking systems. The goal is to expand institutional access to payments in stablecoins USDT and USAT in 17 countries.

EFY Finance serves over 25,000 active private and corporate accounts and operates in several Latin American markets. The investment amount, EFY's valuation, and the round size have not been disclosed.

EFY provides payment infrastructure for transfers in dollar-pegged stablecoins. The services connect digital assets with traditional bank accounts: clients can receive, convert, and settle through local financial networks. Operations with USDT and USAT are supported, with conversion in more than 12 currencies and payment corridors. Wallets, payment cards, over-the-counter trading, and infrastructure for exchanging fiat to stablecoins and vice versa are available.

EFY's settlement network covers local accounts in 17 countries, including Bolivia, Colombia, Mexico, El Salvador, Panama, and Ecuador. The company operates under a Digital Asset Service Provider license in El Salvador. Tether cited client connections, banking integrations, and regulatory arrangements as reasons for supporting the expansion. Previously, Tether reportedly invested $20 million in the Argentine digital bank Ualá in July 2026.

The expansion involves USDT and USAT—a stablecoin focused on the US, issued by Anchorage Digital Bank with Tether's support. Tether specifically notes: USAT is not legal tender, not guaranteed by the US government, and not covered by FDIC insurance.

According to Chainalysis, from July 2022 to June 2025, the volume of crypto transactions in Latin America amounted to nearly $1.5 trillion. Brazil accounted for $318.8 billion, Argentina $93.9 billion, Mexico $71.2 billion, Venezuela $44.6 billion, and Colombia $44.2 billion. Stablecoins made up more than half of exchange purchases with Colombian, Argentine, and Brazilian pesos. In Bitso's 2025 report, dollar-pegged tokens accounted for 40% of crypto purchases compared to 18% for Bitcoin.

EFY CEO Andres Tobon named connecting digital currencies with banking systems already used by businesses as a priority. Tether's head Paolo Ardoino pointed to inflation and capital controls as reasons why some clients seek access to dollar-pegged assets.