Key facts
- Tether invested in Bolivian fintech Peso to aid its Latin American expansion.
- Peso connects USDT payments to merchant services and local banking networks.
- The fintech has integrated USDT payments into Yango's food delivery service in Bolivia.
- Bolivia has seen increased adoption of stablecoins due to a US dollar shortage and inflation.
Tether has led a pre-seed funding round in Bolivian fintech Peso, a company that facilitates USDT payments for services including food delivery and local banking. The investment is intended to support Peso's expansion into Bolivia, Brazil, Colombia, and Argentina, where it aims to connect stablecoin payments with local currencies and merchant payment systems. In Bolivia, Peso has already integrated USDT payments into Yango's food delivery service, offering customers the option to pay with the stablecoin. The fintech also provides QR payments, point-of-sale services for merchants, and virtual accounts linked to Bolivia's banking system. This move by Tether follows other fintech expansions in Bolivia, such as Tala's partnership with El Dorado to offer USDT-denominated credit. Bolivia has increasingly adopted stablecoins since 2025 due to a persistent US dollar shortage and high inflation, making USDT a sought-after alternative for transactions.