- Tether has led a $14 million Series A funding round in belo to expand stablecoin-based payments across Latin America.
- Belo’s digital wallet enables users to hold local currencies alongside dollar-pegged stablecoins like Tether (USDT), supporting payments, foreign exchange, and cross-border transfers.
- The investment will support Belo’s regional expansion as demand for digital dollars rises in inflation-prone economies such as Argentina.
Tether, the stablecoin giant, has led a recent $14 million Series A funding round for belo, the Argentine cryptocurrency and fintech platform looking to expand digital wallets and crypto rails in Latin America (LatAm).
Stablecoins have grown in popularity across emerging markets – regions with typically high inflation, volatile currencies, and limited dollar access. The clarity provided by the US GENIUS Act has allowed for the spread of stablecoins pegged to the US dollar in particular.
Belo offers a diftial wallet where countries can hold local currencies as well as digital dollars. It combines payments, foreign exchange (FX), and cross-border transfers, bidding to alleviate friction from international payments.
As it stands, the belo wallet supports Argentine pesos, Brazilian real, bitcoin, and stablecoins like Tether (USDT) and USD Coin (USDC).
The platform also integrates the Brazilian Pix payment system, allowing users in Argentina to access the network via QR codes.
In the five years since its founding, belo has grown to more than 3 million users across LatAm. “This round is about scaling,” said belo’s CEO Manuel Beaudroit, in reference to the company’s planned expansion into Bolivia, Chile, Colombia, Mexico, Paraguay, and Peru using the funds.
Tether is the dominant stablecoin pegged to the US dollar, making its backing of belo all the more significant. Dollar demand has been strong in Argentina since the 1980s, where a series of financial crises fuelled by fiscal debt, coupled with diplomatic efforts from the US, has prompted a relatively significant level of dollarisation.
The recent funding allows belo to position itself as a conduit and bridge between local currencies and the US dollar.
The round involved participation from Titan Fund, The Venture City, Mindset Ventures, and G2.
