Tether backs Bolivian fintech bringing USDT payments to food delivery and banking

Tether has led a pre-seed funding round in Bolivian fintech Peso, which offers USDT payments through food delivery apps and local banking networks, to support the company’s expansion across Latin America.In a Wednesday announcement, Tether said the investment will help Peso expand its stablecoin payment infrastructure across Bolivia, Brazil, Colombia and Argentina, including services that connect USDT with local currencies through banking and merchant payment systems.Peso has integrated USDT payments into Yango’s food delivery service in Bolivia, allowing customers to pay for orders using the stablecoin. The fintech offers QR payments, point-of-sale services for merchants and virtual accounts linked to Bolivia’s banking system through ACH transfers. Tether did not disclose the size of its investment.Source: TetherThe investment comes as other fintech companies expand USDT-based financial services in Bolivia. On Tuesday, lending platform Tala announced a partnership with El Dorado to offer credit directly through the digital wallet, allowing eligible customers to receive and repay loans in USDT on the Tempo blockchain. Related: Tether, Kazakhstan cenbank mull tenge stablecoin and as...