Tether has invested $20 million into Ualá, an Argentine neobank, according to reporting by Bloomberg. The investment marks the stablecoin issuer's latest move into Latin American fintech.
Ualá operates as a digital banking platform in Argentina and has expanded to other markets in the region. The company has raised capital from venture investors including Founders Fund and Y Ventures. Terms of Tether's investment, including equity stake or governance rights, were not disclosed.
Tether has made several significant investments outside its core stablecoin business in recent years. In 2024, the company invested in Bitcoin mining operations and purchased real estate assets. The firm has also allocated capital to blockchain infrastructure and emerging market financial services.
Latin America has emerged as a key market for stablecoin adoption and crypto services, with Argentina experiencing particular demand for dollar-denominated assets amid local currency instability. Ualá competes with other regional fintech players including Mercado Pago and local banking alternatives, offering services including payments, transfers and account management.
No official announcement from Tether or Ualá confirming investment terms has been published as of this writing.
