Tether Invests $20M Into Argentine Neobank Ualá
The deal is part of Ualá’s $197 million funding round as Tether expands its Latin America fintech presence, Bloomberg reported.
- Tether invested $20 million in Argentine digital bank Uala, deepening the stablecoin issuer's Latin American fintech footprint in a deal joining a March financing round that valued Uala at $3.2 billion.
- Tether, which has $184 billion of tokens in circulation, has aggressively expanded its regional investments, including recent backing for Brazilian crypto exchange Mercado Bitcoin and Argentine platform Belo.
- Uala serves 11 million customers and is aggressively targeting Mexico, where cash dominates about 85 percent of small purchases, presenting significant growth opportunity.
- Regulatory hurdles prevent integrating Tether's stablecoin into the platform, though Chief Executive Officer Pierpaolo Barbieri said Argentine operations should reach break-even in "the next one or two months."
- Tether Chief Executive Officer Paolo Ardoino stated the investment reflects demand for efficient financial services, noting the company also holds a controlling stake in South American agricultural firm Adecoagro.
15 Articles
15 Articles
Tether backs Argentine fintech Ualá with reported $20M investment
Tether has reportedly invested $20 million in Argentine digital bank Ualá, adding another Latin American financial platform to its growing list of stablecoin-focused investments. According to a Bloomberg report, the investment was part of Ualá’s $197 million equity funding round…
Cointelegraph
Tether Invests $20M into Argentine Neobank Ualá
Tether reportedly invested $20 million into Ualá, as part of the Argentine neobank’s $197 million funding round announced in March, as the stablecoin giant’s latest investment in the region.
Tether Invests $20 Million in Argentina’s Ualá, Expanding Latin America Push
Tether has invested $20 million in Argentine digital bank Ualá, deepening its bet across Latin America as the issuer of the world’s largest stablecoin grows its footprint beyond digital assets.
Tether Joins $197 Million Ualá Funding Round, Deepening Latin America Strategy
Tether, the issuer of the world’s largest stablecoin USDT, has expanded its presence in Latin America’s rapidly growing fintech sector through a $20 million strategic investment in Argentine digital bank Ualá. The investment forms part of a broader $197 million funding round that valued the fintech company at $3.2 billion, underscoring continued investor confidence in […]
Coverage Details
Bias Distribution
- 67% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
