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Tether backs Bolivia's Peso to expand USDT payments in Latin America
Tether led an undisclosed pre-seed round in Peso, whose tools link USDT to Yango food delivery, merchant terminals and Bolivian bank accounts.
Key takeaways
- Undisclosed round. Tether led Peso's pre-seed financing but did not disclose the amount, Peso's valuation or the identities of other participants.
- Four markets. Peso plans to develop USDT payment and local currency conversion services in Bolivia, Brazil, Colombia and Argentina.
- Existing Yango link. Peso has already integrated USDT payments into Yango's food delivery service in Bolivia, according to Tether's announcement.
What happened
Tether said on Wednesday, Oct. 21, 2026, that it had led a pre-seed funding round in Peso, a Bolivian fintech that connects USDT to food delivery and local banking services. The stablecoin issuer did not disclose the size of the investment. According to Tether, the funding will support Peso's expansion in Bolivia, Brazil, Colombia and Argentina, including payment infrastructure, merchant services and conversion between USDT and local currencies.
Peso's existing products include USDT payments inside Yango's food delivery service in Bolivia, QR payments and point-of-sale tools for merchants, and virtual accounts registered in customers' names. Through links to Bolivia's banking system, the company says users can move funds between USDT and local currency using automated clearing house transfers. Its app also lets customers hold USDT, send international transfers, make purchases and access savings and investment services.
Peso CEO and co-founder Alejandro Terán said Latin Americans already use USDT but lacked infrastructure to spend it in daily life without friction. Tether CEO Paolo Ardoino said Peso is building everyday-spend infrastructure that turns USDT from a savings tool into a payments channel. Terán also said Tether's choice of a Bolivian startup recognized local talent and execution capacity.
First $0.9996Latest $0.9984-0.1% over the period
Points are daily observations, not closing prices.
Why it matters
The deal is notable because it tries to connect a dollar stablecoin to payment routes that consumers and merchants already use: a delivery app, QR codes, card terminals and bank transfers. In Bolivia, demand for dollar-denominated assets has grown during a prolonged shortage of US dollars, but using USDT for ordinary purchases has often meant interacting with crypto platforms. Peso's model aims to let businesses accept USDT and settle in local currency without operating only inside crypto.
Tether's backing also fits a broader pattern. The issuer has been funding payment companies across Latin America that build local deposit, withdrawal and merchant-acceptance services. The Peso investment is therefore less about issuing a new token than about extending where the existing token can be spent and converted.
What the data shows
Disclosed details are limited. Tether did not reveal the investment amount, Peso's valuation or other participants. The companies also did not disclose transaction counts, the number of restaurants taking part or the value of payments made through Yango. Tether has not provided transaction-cost comparisons or settlement benchmarks for Peso's services. Peso's stated plans cover four markets and include payment terminals, virtual accounts and local currency conversion. Tether's recent Latin American deals include EFY Finance's expansion on Oct. 13 and Saber Money's payment operations on Oct. 16, while Crypto.news also noted a reported $20 million Tether investment in Argentina's Ualá.
Background
Bolivia has seen rising stablecoin use since 2025 as a dollar shortage and high inflation made foreign currency harder to obtain, according to Cointelegraph and Blockonomi. Businesses began accepting USDT for purchases. In November 2025, the government announced plans to bring cryptocurrencies and stablecoins into the financial system, including allowing banks to offer digital asset custody and crypto-linked products. Bolivia abandoned its longstanding currency peg in June 2026.
In July 2026, the government began considering a framework that would recognize USDT for payments, savings and trade alongside the boliviano and the U.S. dollar. Crypto.news reported that the proposal did not itself make USDT legal tender. The country also outlined tighter crypto oversight in September. Separately, Tala announced on Oct. 20 a partnership with El Dorado to offer eligible wallet users credit disbursed and repaid in USDT on the Tempo blockchain, starting in Bolivia. Bitcoin.com News noted that Bolivia lifted a policy that had excluded the banking system from supporting crypto transactions in 2024, after four years.
What to watch
Readers and regulators will watch whether Peso turns the announced plans into live services in all four markets. Key indicators include merchant adoption, transaction volumes, local currency conversion capacity and the treatment of customer balances under Bolivia's evolving rules. The announcement does not include completed integrations with ride-hailing providers or commercial partners beyond Yango, though Peso has named e-commerce, retail, ride-hailing and banking as target sectors. The undisclosed funding size also makes it difficult to judge how far the round can carry the expansion.
Questions readers ask
How much did Tether invest in Peso?
Tether did not disclose the amount. It also did not disclose Peso's valuation or the identities of other participants in the pre-seed round.
What can Peso users do with USDT?
According to the reports, Peso lets customers pay for Yango food deliveries in Bolivia with USDT, use QR and point-of-sale services at merchants, hold and transfer USDT, and move funds between USDT and local currency through virtual accounts linked to Bolivia's banking system.
Is USDT legal tender in Bolivia?
The reports do not say so. A July 2026 proposal contemplated recognizing USDT for payments, savings and trade alongside the boliviano and the U.S. dollar, but Crypto.news reported that it did not itself establish USDT as legal tender.
