Tether backs Bolivian fintech bringing USDT payments to food delivery and banking

The investment will support Peso’s expansion across four Latin American markets, where it connects stablecoin payments to merchant services and local banking networks.

Tether has led a pre-seed funding round in Bolivian fintech Peso, which offers USDT payments through food delivery apps and local banking networks, to support the company’s expansion across Latin America.

In a Wednesday announcement, Tether said the investment will help Peso expand its stablecoin payment infrastructure across Bolivia, Brazil, Colombia and Argentina, including services that connect USDT with local currencies through banking and merchant payment systems.

Peso has integrated USDT payments into Yango’s food delivery service in Bolivia, allowing customers to pay for orders using the stablecoin. The fintech offers QR payments, point-of-sale services for merchants and virtual accounts linked to Bolivia’s banking system through ACH transfers. Tether did not disclose the size of its investment.

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