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Tether said it invested in EFY Finance’s seed round to support institutional USD₮ and USA₮ use across Latin America.
Tether said it has invested in EFY Finance as part of the company’s seed round, a move it said is aimed at expanding institutional use cases for USD₮ and USA₮ across Latin America. The investment is positioned as support for infrastructure linking stablecoins with banks, payment networks and custody services in the region, according to Tether’s 13 October 2026 announcement.
Evidence and context
EFY Finance describes itself as a financial infrastructure company offering stablecoin-based cross-border payments, accounts and digital asset custody across Latin America. In Tether’s account, the firm provides on- and off-ramp services for USD₮ and USA₮, OTC services, wallets and cards across more than 12 currencies and corridors, with settlement to local accounts in 17 countries.
Tether said EFY Finance is licensed as a Digital Asset Service Provider in El Salvador and operates regulated services for more than 25,000 active individual and business accounts. The companies said EFY Finance already has a meaningful presence in Bolivia, Colombia, Mexico, El Salvador, Panama and Ecuador.
Paolo Ardoino, Tether’s chief executive, said in the announcement that the region’s demand for U.S. dollar access has been driven by inflation and capital controls, and that regulated infrastructure is needed to connect USD₮ and USA₮ to banks, businesses and institutional users. Andrés Tobón, co-founder and chief executive of EFY Finance, said the company aims to connect digital dollars with bank accounts, local payment networks, cards and cross-border settlement.
Regional backdrop and cited figures
Tether cited Chainalysis data showing nearly $1.5 trillion in cryptocurrency transaction volume in Latin America between July 2022 and June 2025. The company also said stablecoin purchases now account for over half of all exchange purchases. Those figures were included in Tether’s announcement and were not independently verified in the source material provided.
The announcement also includes background on USA₮, which Tether said is a U.S.-dollar-backed stablecoin issued by Anchorage Digital Bank N.A., a federally chartered bank. Tether said USA₮ is designed to comply with U.S. regulatory standards and is not legal tender, is not issued, backed, approved or guaranteed by the U.S. government, and is not covered by FDIC or SIPC protections.
The source material does not disclose the size of Tether’s investment, the terms of EFY Finance’s seed round, or any next verified milestone or closing date.
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