Tether invests $20M in Ualá, no USDT integration planned
4 Investments Tether invested $20M in Ualá, valuing it at $3.2B. Ualá, with 11M+ users, won’t integrate USDT due to regulations. Tether acts only as a financial investor.
Tether has invested $20 million in the Argentine digital bank Ualá as part of a $197 million funding round announced in March, valuing Ualá at approximately $3.2 billion. Ualá serves over 11 million customers across Argentina, Mexico, and Colombia, providing accounts, cards, lending, and investment services. Despite Tether's involvement, Ualá’s CEO clarified that, due to current regulations in Argentina and Mexico, the USDT stablecoin will not be integrated into the platform in the short term. Tether is participating solely as a financial investor. This investment aligns with Tether’s broader strategy to expand its presence in Latin America, following recent investments in other regional fintech companies. The deal underscores growing interest and competition in the Latin American fintech and crypto markets, with Ualá continuing to attract significant outside capital.
