Tether Backs EFY Finance to Grow Stablecoin Use in Latin America
Tether has joined a seed funding round for EFY Finance to expand institutional use of its USD₮ and USA₮ stablecoins in Latin America. EFY Finance offers cross-border payments, accounts, custody, OTC services, wallets, and cards across multiple currencies and corridors, with settlements in 17 countries. Tether said the investment aims to connect digital dollars with banks, businesses, and local payment networks.
Tether took part in EFY Finance's seed round, announced on 13 October 2026, to promote institutional use of USD₮ and USA₮ across Latin America. EFY Finance provides stablecoin cross-border transfers, accounts, custody, OTC trading, wallets and cards, spanning over a dozen currencies and payment routes, with settlement into local bank accounts across 17 nations.
The firm holds a Digital Asset Service Provider license in El Salvador and supports a customer base of over 25,000 active personal and commercial accounts. It operates in Bolivia, Colombia, Mexico, El Salvador, Panama and Ecuador. Chainalysis figures referenced in the report put regional crypto activity at almost $1.5 trillion from mid-2022 through mid-2025, with over half of exchange purchases being stablecoin acquisitions.
This investment may affect Latin American households and small businesses that rely on dollar-linked tokens to cope with inflation and currency swings, potentially making cross-border payments and savings more accessible through regulated channels. Banks, payment providers and fintechs could gain new settlement options, while regulators may face pressure to oversee expanded stablecoin use. Access and convenience could improve, but reliance on private digital dollars may also raise consumer-protection and financial-stability questions.