Tether Invests $20 Million in Argentina's Ualá to Support Latin American Expansion

Tether has invested $20 million in the Argentine digital bank Ualá as part of Ualá's $197 million funding round announced in March. Ualá plans to use this funding to accelerate its expansion in Argentina, Mexico, and Colombia. Ualá's founder and CEO, Pierpaolo Barbieri, stated that due to the regulatory environment in Argentina and Mexico, USDT stablecoin will not be integrated into the platform in the short term, with Tether participating solely as a financial investor. Ualá has 11 million customers and is valued at $3.2 billion after this funding round, with plans to accelerate expansion in Mexico.

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