Tether announced an investment in EFY Finance’s seed funding round, a fintech specializing in financial infrastructure for Latin America. The goal is to develop professional uses of USDT and USAT by connecting digital dollars to bank accounts and local payment networks. EFY Finance already has over 25,000 active accounts and enables settlements to local accounts in 17 countries, with presence in El Salvador, Bolivia, Colombia, Mexico, Panama, and Ecuador. The company holds a digital asset services provider license in El Salvador. Between July 2023 and June 2024, Latin America received nearly $415 billion in cryptocurrencies, with Argentina and Brazil leading the way, highlighting the market’s significance for stablecoins in the region.
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