BTC $83,361 
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FIGR_HELOC $1.03
ZEC $1,243 Tether backs EFY Finance to expand stablecoin access across Latin America
Tether invested in EFY Finance's seed round to expand USDT and USAT payments across 17 countries.
Key takeaways
- Geographic reach grows. EFY Finance now supports local account settlement across 17 countries.
- Strong regional demand. Latin America recorded nearly USD 1.5 trillion in crypto transaction volume between July 2022 and June 2025.
- Established customer base. EFY Finance serves more than 25,000 active individual and business accounts.
What happened
Tether announced an investment in EFY Finance, a Latin American financial technology company, to expand institutional stablecoin payments across the region. The investment forms part of EFY Finance's seed funding round, though neither company disclosed the size of Tether's stake, EFY's valuation, or total capital raised.
EFY Finance operates payment infrastructure that connects digital assets with traditional bank accounts, allowing institutions to move funds using dollar-backed stablecoins. The company offers wallets, payment cards, custody services and over-the-counter trading, with conversion support across more than 12 currencies and payment corridors.
The platform currently reaches local accounts in 17 countries and serves more than 25,000 active individual and business accounts. Its established markets include Bolivia, Colombia, Mexico, El Salvador, Panama and Ecuador.
EFY Finance holds a Digital Asset Service Provider license in El Salvador, a regulatory arrangement Tether cited as a reason for supporting its expansion. The investment reflects Tether's broader strategy in Latin America, following a reported USD 20 million investment in Argentine digital bank Ualá in July 2026.
First $0.9998Latest $0.9993-0.1% over the period
Points are daily observations, not closing prices.
Why it matters
Latin America shows strong cryptocurrency adoption driven by inflation, currency volatility and capital controls. The region recorded nearly USD 1.5 trillion in crypto transaction volume between July 2022 and June 2025, with Brazil leading at USD 318.8 billion, followed by Argentina at USD 93.9 billion and Mexico at USD 71.2 billion.
Stablecoins dominate payments in several markets. They made up more than half of exchange purchases involving the Colombian peso, Argentine peso and Brazilian real between July 2024 and June 2025, indicating growing preference for dollar-pegged tokens in the region.
The investment targets institutional adoption rather than consumer-only use. By connecting stablecoins to local banking systems and corporate payment networks, EFY Finance aims to enable businesses and financial institutions to settle transactions using USDT and USAT without intermediaries.
What the data shows
USAT is a U.S.-focused stablecoin issued by Anchorage Digital Bank, a federally chartered bank, with Tether's support.
EFY Finance's expansion complements earlier adoption pilots. In July 2026, Hyundai Motor's U.S. and Mexican operations completed a test transfer of USD 20,000 using USDT over the Avalanche blockchain, which settled in about seven minutes.
Questions readers ask
How many countries does EFY Finance operate in?
EFY Finance supports local account settlement across 17 countries, with established markets including Bolivia, Colombia, Mexico, El Salvador, Panama and Ecuador.
What services does EFY Finance offer?
EFY Finance provides wallets, payment cards, custody services, over-the-counter trading and conversion support across more than 12 currencies, allowing customers to exchange stablecoins for traditional currencies and settle funds into local accounts.
How many accounts does EFY Finance have?
EFY Finance serves more than 25,000 active individual and business accounts.
What is USAT and who issues it?
USAT is a U.S.-focused stablecoin issued by Anchorage Digital Bank, a federally chartered bank, with Tether's support.
