Tether invested $20 million in the Argentine Digital Bank Ualá and continued to expand its capital allocation in Latin America. Ualá has more than 11 million users in Argentina, Mexico and Colombia, and the deal gave Tether a minority share in this financial platform.

Inclusion of $197 million in financing

This investment belonged to the $197 million in financing that was released in Ualá in March this year. The financing was led by Allianz X and was valued at $3.2 billion. Tether appeared in the investor's list earlier before the specific contribution was disclosed.

  • Total financing for the current round is $197 million
  • Ualá = $3.2 billion
  • Tether contributed $20 million

Tether ' s shareholding ratio is approximately 0.6 per cent, but the actual ratio still depends on the final transaction terms.

Not for the short term.

The Chief Executive Officer of Ualá, Pierpaolo Barbieri, stated that the platform would not have access to USDT in the short term, affected by existing regulatory restrictions in Argentina and Mexico. According to him, Tether was involved in the financing this time, and was only a financial investor.

Ualá currently provides such services as accounts, bank cards, loans and investments. For Tether, the deal was closer to equity investment in regional financial platforms than to promoting the immediate local landing of stable currencies.

Latin American investment continues to expand.

This is also part of Tether's recent continuous investment in Latin America. In April, Tether took out $14 million in financing for the payment of the wallet of Belo in Argentina; earlier this month, it also invested $20 million in Mercado Bitcoin, the Brazilian encryption exchange.

Tether also controls 70 per cent of the shares of Adecoagro, an agricultural and energy producer whose operations cover Argentina, Brazil and Uruguay. Public data show that USDT is currently in circulation at about $184 billion, and Tether has a profit of $104 billion in the first quarter of this year.

  • USDT flows about $184 billion
  • Tether has a profit of $104 billion a quarter.
  • Mercado Bitcoin, $20 million.