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Tether invests $20 million in Argentine digital bank Ualá, with no USDT integration plans in the short term

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According to Bloomberg, Tether invested $20 million in Argentina’s digital bank Ualá. This investment is part of Ualá’s $197 million funding round announced in March this year; after the round, the company’s valuation reached $3.2 billion. Ualá plans to use the funds to drive business growth in Argentina, Mexico, and Colombia and to expand its financial services, with Mexico set to become a key expansion market. Ualá founder and CEO Pierpaolo Barbieri said that due to local regulatory constraints, the company has no plans to integrate USDT in the short term, and Tether is participating only as a financial investor. Ualá currently has about 11 million customers across Latin America, and its Argentina operations are expected to return to break-even within the next one to two months.
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RarityDetective
· 5h ago
The Latin American payments sector has gained another major heavyweight. While Tether’s move looks like a financial investment, it’s actually laying out a much bigger plan.
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