Tether announced that it led a pre-seed funding round for Bolivian fintech company Peso, without disclosing the investment amount. The funding is intended to expand local USDT on- and off-ramps in Bolivia, Brazil, Colombia and Argentina. Peso offers USDT accounts, point-of-sale acceptance and virtual accounts connected to Bolivia’s banking system through QR codes and ACH payments. The company also enables food orders to be paid for in USDT through Yango in Bolivia. Tether did not specify how frequently the services are used, the volume processed by merchants or the all-in cost of a payment.
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