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Deep Tide TechFlow news: On July 17, according to Cointelegraph, stablecoin issuer Tether invested $20 million in Argentina’s new bank Ualá. The investment is part of its $197 million equity financing round announced in March, which was led by Allianz X.
At the time, Ualá disclosed Tether’s participation in the round but did not reveal the specific amount. This investment continues Tether’s expansion strategy in Latin America. Previously, it had invested $20 million in Brazil’s crypto exchange Mercado Bitcoin and led the $14 million Series A funding round for Argentina’s crypto platform Belo.