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Peso already allows customers in Bolivia to use USDT, Tether’s dollar-pegged stablecoin, for selected transactions, including food deliveries through Yango. The company also provides QR payments, merchant point-of-sale services, virtual accounts and transfers connecting stablecoin balances with local banking networks.
The planned expansion into Brazil, Colombia and Argentina aims to make digital dollar balances more practical for consumers and businesses. Rather than limiting USDT to cryptocurrency exchanges or savings applications, Peso wants to support transactions through payment channels people already use.
The companies have not disclosed the investment amount, Peso’s valuation or the identities of other investors participating in the funding round. They have also not published transaction volumes or financial performance figures for Peso’s existing services.
Peso operates a financial application that allows users to hold USDT, transfer money internationally, make purchases and access savings and investment services. Its business model focuses on connecting digital dollar balances with conventional payment infrastructure, potentially reducing the need for consumers to move between separate cryptocurrency and banking platforms.
In Bolivia, one of the company’s existing services integrates USDT payments into Yango, enabling customers to order food through the delivery platform and pay using the stablecoin.
The integration illustrates how Peso intends to bring cryptocurrency into routine consumer spending. However, the available announcement does not specify how many customers use the service, how many restaurants participate or how much money has moved through the platform.
Peso also provides QR-based transactions, merchant payment terminals and virtual accounts registered in customers’ names. Through connections with Bolivia’s banking system, customers can transfer funds between USDT balances and local currency using automated clearing house transfers.
These services could offer businesses additional ways to receive payments while maintaining access to domestic financial networks. For customers, the approach provides a route between digital dollars and local currency without requiring every transaction to take place within a cryptocurrency platform.
Peso CEO and co-founder Alejandro Terán said the company was responding to demand for practical ways to spend dollar-denominated digital assets.
“Latin Americans are already using USD₮; what was missing was the infrastructure to spend it in everyday life without friction,” Terán said.
The statement highlights the distinction between holding a stablecoin and being able to spend it. Although users can keep digital dollars in cryptocurrency wallets, everyday purchases often require merchants, payment processors and financial institutions capable of accepting or converting those assets.
Peso’s expansion will depend on developing these connections across its four target markets. The company has not announced a comprehensive list of new merchant agreements or confirmed additional commercial integrations beyond its existing Yango service.
Tether’s investment will support Peso’s efforts to expand its payment terminals, virtual account infrastructure and connections with financial institutions in Bolivia, Brazil, Colombia and Argentina.
The strategy centres on making USDT payments compatible with local financial arrangements. Customers and merchants need practical ways to deposit funds, withdraw money and convert digital dollars into national currencies. These functions are particularly important for businesses that want to accept stablecoins without managing cryptocurrency infrastructure themselves.
Tether CEO Paolo Ardoino described Peso’s approach as an effort to extend the stablecoin’s use beyond saving and trading.
“Peso is building the kind of everyday-spend infrastructure that turns USD₮ from a savings tool into a payments channel people rely on daily,” Ardoino said.
The proposed expansion includes e-commerce, retail transactions, ride-hailing and banking services. However, these sectors represent areas Peso intends to serve rather than a list of completed integrations. The announcement does not identify new ride-hailing partners or provide a timetable for rolling out additional services.
The investment also comes without published data comparing Peso’s fees, settlement times or conversion rates with those of traditional payment providers. Consequently, the extent to which its infrastructure could reduce costs for consumers and merchants remains unclear.
The distinction matters because transferring a stablecoin and completing a retail payment are not necessarily the same process. A transaction may require blockchain settlement, conversion into local currency, compliance checks and a final transfer through a domestic bank or payment network.
Peso’s ability to coordinate those stages will help determine how useful its services become outside cryptocurrency markets. Its planned expansion therefore involves more than increasing the number of users holding USDT; it requires payment arrangements that function within the financial systems of each country.
Peso’s expansion comes as Bolivia experiences increased interest in dollar-denominated digital assets amid restrictions on access to foreign currency and changes to its financial system.
In July 2026, a proposal to recognize USDT contemplated allowing the stablecoin to operate as a payment option alongside the boliviano and the US dollar. The proposal did not, by itself, establish USDT as legal tender.
In September, Bolivia outlined tighter cryptocurrency oversight, including plans for a supervisory framework covering virtual assets and measures addressing illicit capital movements. Separately, the Central Bank of Bolivia’s 2026 monetary program called for stronger international reserves and changes to foreign exchange arrangements. The bank also announced measures in September intended to make US dollars available to financial institutions under its foreign exchange regulations.
These developments create a complex environment for companies offering stablecoin-based financial products. Demand for digital dollars may increase when access to conventional foreign currency becomes difficult, but businesses must still operate within applicable financial and regulatory requirements.
Peso’s plans will therefore depend on more than consumer interest. Its ability to expand will also require reliable banking relationships, adequate local currency liquidity and arrangements for complying with rules in each market.
Other companies are pursuing related opportunities. On October 20, lending provider Tala announced a partnership with El Dorado to provide eligible wallet users with credit disbursed and repaid in USDT on the Tempo blockchain. The service is initially intended for Bolivia, with further expansion across Latin America planned.
The development illustrates how stablecoins are being incorporated into different financial services, including payments and lending. However, each business model faces its own operational and regulatory requirements.
Peso’s funding round forms part of a broader investment strategy by Tether aimed at supporting businesses that connect USDT with local accounts and payment networks.
On October 13, Tether backed EFY Finance’s expansion. The payment provider’s network reaches local accounts in 17 countries, including Bolivia, Colombia and Mexico. The investment reflects a similar focus on connecting digital assets with existing financial infrastructure.
On October 16, Tether also announced an investment supporting Saber Money’s payment operations, including plans to develop banking relationships and obtain regulatory licences across the Asia-Pacific region and the Gulf.
In Argentina, Tether previously made a reported $20 million investment in digital bank Ualá. That investment formed part of Ualá’s $197 million fundraising round, led by Allianz X, with Tether’s participation reported separately from the original announcement of the round.
Taken together, these investments indicate that Tether is pursuing opportunities beyond the issuance and trading of its stablecoin. Payment providers can help extend USDT’s practical uses by connecting it with merchant services, bank accounts and domestic transfer systems.
For Peso, the immediate challenge is turning its existing Bolivian services into a broader regional network. Expanding USDT payments across four countries will require local partnerships, dependable conversion arrangements and infrastructure capable of supporting consumer and merchant transactions.
The company has already demonstrated one application through its Yango integration in Bolivia. Whether it can reproduce that model across additional markets will become clearer as new services launch and transaction data emerges.
Neither Tether nor Peso has disclosed the amount invested, detailed rollout dates or transaction targets for the expansion. For now, the announcement establishes the companies’ intention to broaden access to stablecoin-based financial services, while the scale and commercial impact of the project remain to be demonstrated.
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