TLDR
- Tether invested in EFY Finance’s seed round to grow institutional USDT and USAT stablecoin payments in Latin America.
- EFY Finance settles payments to local accounts in 17 countries and serves more than 25,000 active accounts.
- Neither company disclosed the investment amount, EFY Finance’s valuation, or the total seed round size.
- USAT is a U.S.-focused stablecoin issued by Anchorage Digital Bank with Tether’s support.
- Chainalysis data shows Latin America recorded nearly $1.5 trillion in crypto transaction volume between July 2022 and June 2025.
Tether has invested in EFY Finance, a Latin American financial technology company, as part of its seed funding round. The goal is to expand institutional access to USDT and USAT stablecoin payments across 17 countries.
Tether announced the deal on October 13. Neither company disclosed the investment amount, EFY Finance’s valuation, or the total size of the seed round.
How EFY Finance Works
EFY Finance builds payment infrastructure that lets businesses and financial institutions move money using dollar-backed stablecoins. Its services link digital assets with traditional bank accounts.
The company offers wallets, payment cards, custody services, and over-the-counter trading. It supports conversion across more than 12 currencies and payment corridors, with settlement to local accounts in 17 countries.
EFY Finance serves more than 25,000 active individual and business accounts. It holds a Digital Asset Service Provider license in El Salvador.
Its established markets include Bolivia, Colombia, Mexico, El Salvador, Panama, and Ecuador. The company plans to grow institutional services in these countries.
Tether CEO Paolo Ardoino said the U.S. dollar is “a lifeline against inflation and capital controls” across Latin America. He said EFY Finance is positioned to make dollar access easier through regulated infrastructure.
EFY Finance co-founder and CEO Andrés Tobón said stablecoins are already part of the region’s financial system. He said the challenge is connecting them with bank accounts, local payment networks, cards, and cross-border settlement.
The expansion involves two tokens. USDT is Tether’s established dollar-pegged stablecoin.
USAT is a U.S.-focused stablecoin issued by Anchorage Digital Bank, a federally chartered bank, with Tether’s support. Tether states that USAT is not legal tender, is not guaranteed by the U.S. government, and is not insured by the FDIC.
In September, Anchorage Digital chose LayerZero as an interoperability provider for its bank-issued stablecoins, including USAT. The October announcement did not say which blockchains EFY Finance will use for new products.
Latin America Records Nearly $1.5 Trillion in Crypto Activity
Blockchain analytics firm Chainalysis reported that Latin America recorded nearly $1.5 trillion in crypto transaction volume between July 2022 and June 2025. The firm linked adoption to inflation, currency swings, and capital controls.
Brazil led with $318.8 billion in crypto value received. Argentina followed with $93.9 billion, then Mexico at $71.2 billion, Venezuela at $44.6 billion, and Colombia at $44.2 billion.
Stablecoins made up more than half of exchange purchases involving the Colombian peso, Argentine peso, and Brazilian real between July 2024 and June 2025. Bitso’s 2025 report found dollar-backed tokens made up 40% of crypto purchases on its platform, compared with 18% for Bitcoin.
The EFY deal follows other Tether moves in the region. In July 2026, Tether reportedly invested $20 million in Argentine digital bank Ualá.
That same month, Hyundai Motor’s U.S. and Mexican operations completed a pilot using USDT to send $20,000 over the Avalanche blockchain. The transfer settled in about seven minutes, according to the companies.
The companies have not shared timelines for new products, expansion into more countries, or expected transaction volumes. Tobón said institutional access to USDT and USAT remains a focus as EFY Finance builds links between digital dollars and local banking networks.
