EFY Finance Secures Tether Backing to Bridge Stablecoins and Banking Across 17 Latin American Markets

TLDR

• Tether participated in EFY Finance’s seed funding to accelerate institutional payment solutions using USDT and USAT stablecoins throughout Latin America.
• EFY Finance processes settlements to local banking systems across 17 nations and manages over 25,000 active user accounts.
• Financial terms of the investment, including amount and valuation, were not made public by either party.
• USAT represents a U.S.-centric stablecoin created by Anchorage Digital Bank in collaboration with Tether.
• Between July 2022 and June 2025, Latin America processed approximately $1.5 trillion in cryptocurrency transactions, according to Chainalysis research.

Tether has taken a stake in EFY Finance through the Latin American fintech company’s seed funding round. The partnership aims to broaden institutional payment capabilities using USDT and USAT stablecoins throughout 17 nations in the region.

The investment was revealed by Tether on October 13. Details regarding the specific investment sum, EFY Finance’s post-money valuation, and the complete seed round figure remain undisclosed.

EFY Finance’s Payment Infrastructure

EFY Finance develops payment technology enabling companies and financial institutions to transfer value through dollar-pegged stablecoins. The platform creates bridges between blockchain-based assets and conventional banking systems.

The fintech provides wallet solutions, payment card issuance, digital asset custody, and OTC trading facilities. Its infrastructure supports currency conversion across more than 12 different currencies and payment channels, delivering settlement capabilities to local bank accounts in 17 nations.

With a client base exceeding 25,000 active accounts spanning individual users and corporate entities, EFY Finance operates under a Digital Asset Service Provider license granted in El Salvador.

The company maintains strong market presence in Bolivia, Colombia, Mexico, El Salvador, Panama, and Ecuador. Future development will concentrate on expanding institutional service offerings within these territories.

According to Tether CEO Paolo Ardoino, the U.S. dollar serves as “a lifeline against inflation and capital controls” throughout Latin American markets. He emphasized that EFY Finance is well-positioned to democratize dollar accessibility via compliant infrastructure.

Andrés Tobón, co-founder and CEO of EFY Finance, noted that stablecoins have already integrated into the region’s financial ecosystem. The primary obstacle, he explained, lies in establishing seamless connections with traditional bank accounts, domestic payment rails, card networks, and international settlement systems.

The strategic expansion encompasses two distinct tokens. USDT represents Tether’s widely-adopted dollar-backed stablecoin.

USAT is a domestically-focused U.S. stablecoin launched by Anchorage Digital Bank, a nationally chartered banking institution, in partnership with Tether. Tether clarifies that USAT does not constitute legal tender, carries no U.S. government guarantee, and lacks FDIC insurance protection.

Last September, Anchorage Digital selected LayerZero to provide interoperability infrastructure for its banking-grade stablecoins, including USAT. The October disclosure did not specify which blockchain networks EFY Finance intends to deploy for upcoming product launches.

Crypto Transaction Volume Approaches $1.5 Trillion Across Latin America

Chainalysis, a blockchain intelligence provider, documented that Latin America generated approximately $1.5 trillion in cryptocurrency transaction value from July 2022 through June 2025. The research firm attributed high adoption rates to persistent inflation pressures, volatile currency markets, and restrictive capital controls.

Brazil dominated with $318.8 billion in received crypto value. Argentina registered $93.9 billion, followed by Mexico at $71.2 billion, Venezuela at $44.6 billion, and Colombia at $44.2 billion.

Stablecoins accounted for more than half of all exchange purchases denominated in Colombian pesos, Argentine pesos, and Brazilian reais during the July 2024 to June 2025 period. Bitso’s 2025 analysis revealed that dollar-pegged tokens comprised 40% of cryptocurrency acquisitions on its exchange platform, while Bitcoin represented just 18%.

This EFY Finance investment follows Tether’s ongoing regional expansion efforts. In July 2026, Tether reportedly committed $20 million to Argentine digital banking platform Ualá.

During that same period, Hyundai Motor’s U.S. and Mexican divisions executed a pilot transaction using USDT to transfer $20,000 via the Avalanche blockchain. The cross-border payment settled in approximately seven minutes, the participating companies confirmed.

No specific timelines have been announced for product releases, geographic expansion beyond current markets, or projected transaction volume targets. Tobón emphasized that enhancing institutional access to USDT and USAT remains the company’s central objective as EFY Finance constructs connections between digital dollar instruments and regional banking infrastructure.