Tether injects another $20 million to enter Argentina, with new bank Ualá hopping onto the stablecoin train across Latin America

Stablecoin leader Tether continues to expand its footprint in Latin America. This time, it invested $20 million to enter Argentina’s new bank Ualá, as part of the $197 million equity funding round announced in March. Combined with Tether’s investments of $20 million in Brazil’s Mercado Bitcoin in July and its lead investment in Belo in April, Tether’s Latin America strategy has accumulated more than $56 million in direct investments.

(Background recap: Tether announced an investment in the digital asset infrastructure platform Parfin, accelerating the adoption of USDT in Latin America.)

(Additional context: USDT makes a lot of money! Tether: in the coming year, at least another $1 billion investment—what areas will it target?)

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• Tether makes three consecutive stops in Latin America within three months
• Why Argentina?
• Stablecoin competition intensifies

Tether’s expansion pace in Latin America is picking up again. According to a July 15 report by Bloomberg, Tether invested $20 million for a stake in Argentina’s new bank Ualá, as part of the bank’s $197 million equity funding round announced in March.

This investment was led by Allianz X, the venture capital arm of the Allianz Group. At the time, Ualá publicly stated that Tether was one of the participants, but it did not disclose each party’s investment size. This is the first time Tether has explicitly disclosed the investment amount in a single new bank.

Tether makes three consecutive stops in Latin America within three months

Tether’s investment tempo in Latin America is clearly accelerating. Looking back at the first half of this year:

• Early July: Invested $20 million in Brazil crypto exchange Mercado Bitcoin to support the expansion of its on-chain infrastructure
• April: Led Belo’s Series A funding round of $14 million for Argentina’s crypto platform, with follow-on investments from Titan Fund, The Venture City, etc.
• July 16: Invested $20 million in Ualá

The three investments together total more than $56 million, covering two major Latin American economies—Brazil and Argentina. The targets include a new bank, an exchange, and a crypto platform.

Why Argentina?

Argentina is one of the largest stablecoin usage countries in Latin America. Inflation has stayed above 50% for years, the peso exchange rate fluctuates frequently, and local people have long been accustomed to storing wealth using the US dollar and stablecoins. Tether’s flagship product, USDT, has circulating supply in Argentina exceeding $10 billion, second only to the United States.

Ualá is one of Argentina’s largest digital banks, with more than 15 million users. By taking a stake in Ualá, Tether can directly reach Latin America’s biggest stablecoin user base, shifting USDT from a “crypto investment tool” to a “daily payments and savings tool.”

Stablecoin competition intensifies

Tether is not the only stablecoin player targeting the Latin American market. Circle, the issuer of USDC, has already seen USDC’s circulation in the region exceed $6 billion. Payments giants Visa and Mastercard have also launched localized payment solutions for USDT and USDC in Latin America, respectively.

Tether currently manages USDT, the stablecoin with the largest global market value. According to CoinMarketCap data, USDT’s market cap has reached $18.44 billion. In 2025, Tether announced that over the next year it would invest at least $1 billion again, and the Latin American market is one of its core directions.

Tether has not responded to reports about the scale of this investment.

This article is sourced from Bloomberg and Ualá’s official announcements, compiled and edited by Move Zone Move Trend.