Tether invested $20 million in Ualá, Argentina Digital Bank

According to Bloomberg, Tether invested $20 million in the Argentine Digital Bank Ualá, a $197 million financing round announced by Ualá last March, with a post-financing company valued at $3.2 billion. Ualá plans to use funds to boost its business growth and expand its financial services in Argentina, Mexico and Colombia, where Mexico will be a major expansionary market. The founder of Ualá and CEO Pierpaolo Barbieri stated that the company ' s plan to integrate USDT was short-term, limited by the local regulatory environment, and Tether was involved only as a financial investor. Ualá currently has about 11 million clients in Latin America, and its Argentine operations are expected to restore the balance of gains and losses within the next one to two months。