Tether has invested in Orionx, a leading digital asset exchange in Chile that builds systems for sending money across borders.
The strategic investment was the final part of Orionx’s Series A funding round, led only by Tether. It will help Orionx grow its work in Chile, Peru, Colombia, and Mexico.
Why LATAM Needs Stablecoins?
Latin America has a big need for stable financial tools. Between July 2023 and June 2024, people in LATAM received nearly $415 billion in crypto. Most of that was stablecoins moving between local and global exchanges.
In countries like Brazil and Argentina, local money loses value fast. Prices go up each year, and this makes people look for safer options like stablecoins. Banks are hard to use for many people as they ask for strict paperwork and are far away.
Fees can be high, too, and because of this, many adults have no bank account. Others have only limited access to banks. Stablecoins let users send and receive money quickly, and they work without a bank. This helps both shops and people who send money home.
Orionx’s Role in the Region
Orionx lets businesses and people use crypto in real ways. Its systems work for both big companies and regular customers. The firm builds tools for sending money across borders, it also helps with paying and managing money.
Orionx has ways to change local money into stablecoins. This makes it easier to send money to other countries, and Orionx also sets up local methods to put money in and take money out.
All of this takes place quickly and easily without exchanging to other tokens.
Tether’s Goal for Financial Inclusion
Tether wants to help more people use digital money. Paolo Ardoino, CEO of Tether, said they aim to bring stablecoin tools to more people in the region. This will give users safe ways to join the global market.
Tether is known for being a leader in stablecoins. Now, with Orionx as part of its work, Tether can grow stablecoin use in LATAM.
Joel Vainstein, CEO of Orionx, said this deal is a big step for his company and the region. He said many firms in LATAM want faster and cheaper ways to take payments and manage money.
With Tether’s help, Orionx can make better and bigger solutions. Both companies share a dream of giving people a stable way to use money without needing a bank.
Tether Expands in Other Areas
At the Token2049 event in Dubai, Tether also announced that it will launch its US dollar-backed stablecoin USDT and its gold-backed token XAUt on The Open Network.
This move will let Telegram users use stablecoins and tokenised gold more easily.
On another front, Tether now has more U.S. Treasury bills than Germany. By the first quarter of 2025, Tether’s holdings were over $120 billion, and Germany’s holdings were $111.4 billion. It shows how big Tether’s reserves have grown.
Tether’s investment in Orionx marks a major push to help people in LATAM use stablecoins every day. It also shows how stablecoins can serve those who lack bank accounts.
Also Read: Tether Launches Native USD₮ On Kaia Blockchain In Partnership With LINE NEXT