Tether invests in EFY Finance’s seed round
The investment supports stablecoin payment infrastructure across Latin America; the amount was undisclosed.
The investment extends an existing partnership between the companies. EFY Finance confirmed that it has joined Tether’s investment portfolio.
EFY’s work connects dollar-backed stablecoins with banking and local payment networks. Tether says the company already supports local-account settlement in 17 countries, providing distribution for institutional stablecoin services.
Use of funds
Expand institutional use of USD₮ and USA₮ across Latin America
Develop links between stablecoins, banks and local payment networks