Tether invests in Orionx to boost stablecoin use in Latin America
Tether has announced a strategic investment in Orionx, a digital asset platform operating in Latin America, according to a June 3 statement.
The investment aims to accelerate the use of stablecoin-powered financial services across the region, particularly in underserved and inflation-prone economies.
According to the statement, Orionx currently serves users in Chile, Peru, Colombia, and Mexico.
With fresh capital from Tether, the company plans to upgrade its technical infrastructure, expand its business-facing solutions, and streamline services like remittances, collections, and treasury operations.
Backing meaningful impact
Tether’s investment supports Orionx’s effort to offer a faster, more inclusive alternative. The firm’s “Remittances as a Service” model allows merchants and institutions to process cross-border payments with low fees, rapid settlement, and local currency conversions.
This infrastructure also includes simplified onboarding, enabling users to transact without the complexities of legacy banking systems.
Paolo Ardoino, CEO of Tether, said the investment reflects the company’s mission to back technology that delivers meaningful impact. He added:
“By closing Orionx’s series A round, we are not only supporting a high-impact company but also advancing our broader vision of making stablecoin-powered financial tools accessible to underserved communities across the region.”
The initiative is part of Tether’s broader push to deepen stablecoin integration, where traditional banking often falls short.
Stablecoins are seeing widespread adoption in Latin America as individuals and businesses seek to protect their money from currency devaluation.
Tether, citing Chainalysis data, reported that the region processed over $400 billion in crypto transactions between July 2023 and June 2024, most of which involved stablecoins like USDT.
Despite this growth, large parts of Latin America remain financially excluded. Millions of adults lack access to banking due to geographic limitations, high fees, and rigid documentation requirements. In response, crypto platforms are stepping in to close the gap.
Tether’s investment strategy
The Orionx deal is one of several investments Tether has made recently to extend its influence beyond stablecoins.
The firm has funded companies across multiple sectors, including mining company Bitdeer, video platform Rumble, and sports team Juventus.
Still, Tether’s flagship product, USDT, remains its central focus. As of press time, USDT holds a market capitalization of more than $153 billion, making it the most widely used stablecoin in the world, according to CryptoSlate’s data.
The post Tether invests in Orionx to boost stablecoin use in Latin America appeared first on CryptoSlate.
Read More
Ripple National Trust Bank Targets Fed Access—Is RLUSD About to Go Full Scale?
Tether invests in Orionx to boost stablecoin use in Latin America
Tether has announced a strategic investment in Orionx, a digital asset platform operating in Latin America, according to a June 3 statement.
The investment aims to accelerate the use of stablecoin-powered financial services across the region, particularly in underserved and inflation-prone economies.
According to the statement, Orionx currently serves users in Chile, Peru, Colombia, and Mexico.
With fresh capital from Tether, the company plans to upgrade its technical infrastructure, expand its business-facing solutions, and streamline services like remittances, collections, and treasury operations.
Backing meaningful impact
Tether’s investment supports Orionx’s effort to offer a faster, more inclusive alternative. The firm’s “Remittances as a Service” model allows merchants and institutions to process cross-border payments with low fees, rapid settlement, and local currency conversions.
This infrastructure also includes simplified onboarding, enabling users to transact without the complexities of legacy banking systems.
Paolo Ardoino, CEO of Tether, said the investment reflects the company’s mission to back technology that delivers meaningful impact. He added:
“By closing Orionx’s series A round, we are not only supporting a high-impact company but also advancing our broader vision of making stablecoin-powered financial tools accessible to underserved communities across the region.”
The initiative is part of Tether’s broader push to deepen stablecoin integration, where traditional banking often falls short.
Stablecoins are seeing widespread adoption in Latin America as individuals and businesses seek to protect their money from currency devaluation.
Tether, citing Chainalysis data, reported that the region processed over $400 billion in crypto transactions between July 2023 and June 2024, most of which involved stablecoins like USDT.
Despite this growth, large parts of Latin America remain financially excluded. Millions of adults lack access to banking due to geographic limitations, high fees, and rigid documentation requirements. In response, crypto platforms are stepping in to close the gap.
Tether’s investment strategy
The Orionx deal is one of several investments Tether has made recently to extend its influence beyond stablecoins.
The firm has funded companies across multiple sectors, including mining company Bitdeer, video platform Rumble, and sports team Juventus.
Still, Tether’s flagship product, USDT, remains its central focus. As of press time, USDT holds a market capitalization of more than $153 billion, making it the most widely used stablecoin in the world, according to CryptoSlate’s data.
The post Tether invests in Orionx to boost stablecoin use in Latin America appeared first on CryptoSlate.
Read More