Tether announced two Latin America fintech investments on July 16: first, investing $20 million in Argentina’s digital bank Ualá, as part of the $197 million funding round Ualá announced in March; second, Tether led a $14 million A-round financing for Argentine Latin America fintech company belo.
Ualá funding details: $197 million round, $3.2 billion valuation
According to Bloomberg, Ualá’s current round ($197 million) was announced in March 2026, with Tether’s $20 million included in it. After the financing is completed, Ualá’s valuation will reach $3.2 billion, and it currently has 11 million customers.
Ualá CEO Barbieri clearly stated that, due to the regulatory environment in Argentina and Mexico, the platform will not integrate the USDT stablecoin in the short term. Tether’s role is defined as a “financial investor” rather than a strategic business partner. Ualá plans to use the funds to accelerate market expansion in Argentina, Mexico, and Colombia, with Mexico a key focus for accelerating its expansion targets.
belo’s Latin America expansion plan: $14 million A round, three years of ongoing profitability
According to reports, belo was founded in Buenos Aires by Manuel Beaudroit and Edwin Rager. It is one of the first platforms in Latin America to issue crypto-enabled Mastercard cards, supporting digital dollars and bitcoin held in Argentine pesos, USDC, and USDT, and integrating OpenTrade’s RWA infrastructure to generate returns on USDC and USDT treasury balances.
belo’s differentiated positioning includes:
Three years of sustained profitability: A rare profit-making case among many fast-growing fintech firms such as Lemon, Cash, and Ualá
Pix network interoperability: Supports interoperable QR codes for payments over Brazil’s Pix network in Argentina
Six new market expansion plans: Mexico, Chile, Colombia, Peru, Bolivia, and Paraguay
Long-term goal: To become a globally leading financial company rooted in Latin America
FAQ
Does Tether’s investment in Ualá mean Ualá will integrate USDT?
According to statements by Ualá CEO Barbieri, due to the regulatory environment in Argentina and Mexico, USDT will not be integrated on the platform in the short term. Tether participates solely as a financial investor and is not a business integration partner. The scope of specific cooperation will be subject to official announcements from both parties.
How is belo’s business model different from its peers?
According to reports, belo’s biggest differentiator is that it has remained profitable for the past three years, in contrast to its peers in the same period that quickly burned cash to expand (such as Lemon, Cash, and Ualá). belo adopts a business model focused on sustainable operations while integrating OpenTrade’s RWA infrastructure to generate stable returns on USDC and USDT balances.
Why has Tether increased investment in Latin America fintech?
According to reports, the inflation environment in Latin America (especially Argentina) has driven strong demand for USD-pegged stablecoins such as USDT, and the cross-border remittances market is also substantial. By investing in both Ualá and belo, Tether shows its intention for a systemic presence in the Latin America fintech ecosystem. The specific investment strategy will follow Tether’s official statements.
