Tether invests $20M into Argentine neobank Ualá
Summary
Tether reportedly invested $20 million in Argentine neobank Ualá, adding to a wider expansion across Latin America. The stake was part of Ualá’s $197 million equity round announced in March and led by Allianz X. Ualá had already said Tether participated, but the amount was not disclosed at the time. The move follows other recent Latin America deals: Tether announced a $20 million investment in Brazilian crypto exchange Mercado Bitcoin in July to expand onchain infrastructure, and it led a $14 million Series A round for Argentine crypto platform Belo in April. Tether, issuer of USDT, remains the largest stablecoin provider, with USDT’s market cap around $184.4 billion at the time cited.
