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According to Bloomberg, Tether invested $20 million in Argentina digital bank Ualá. This investment is part of the $197 million funding round announced by Ualá in March this year, after which 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 financial services, with Mexico set to become a key expansion market. Ualá founder and CEO Pierpaolo Barbieri said that due to local regulatory conditions, the company has no plans to integrate USDT in the short term, and that 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 reach break-even in the next one to two months.