Tether Backs EFY Finance to Push USDT, USAT Across 17 Countries

Tether has taken a stake in Latin American fintech firm EFY Finance through its seed funding round, a deal announced on October 13, 2026, aimed at widening institutional access to USDT and USAT stablecoin payments across 17 countries. Tether’s investment amount, EFY Finance’s valuation and the total size of the seed round were all left undisclosed, according to Blockonomi.

Crypto.news and Cryptobriefing also reported the deal. Crypto.news noted that Tether confirmed the funding would support EFY Finance’s infrastructure for international payments, digital asset custody and connections to local banking systems, and that the round was structured as a seed round without any other investors being named.

Key facts

• EFY Finance settles payments to local accounts in 17 countries and serves more than 25,000 active individual and business accounts, per Blockonomi.
• The firm holds a Digital Asset Service Provider license in El Salvador, and its established markets include Bolivia, Colombia, Mexico, El Salvador, Panama and Ecuador, Cryptobriefing reported.
• EFY supports conversion across more than 12 currencies and payment corridors and offers wallets, payment cards, custody and over-the-counter trading.
• USAT is issued by Anchorage Digital Bank, a federally chartered bank, with Tether’s support; Tether states it is not legal tender, is not guaranteed by the U.S. government and is not FDIC-insured.
• Chainalysis data cited by Blockonomi puts Latin American crypto transaction volume at nearly $1.5 trillion between July 2022 and June 2025.

What EFY Finance does with the money

EFY Finance builds payment infrastructure that lets businesses and financial institutions move money using dollar-backed stablecoins, linking digital assets to traditional bank accounts. Customers can receive, convert and settle payments through local financial networks, and can exchange conventional money for stablecoins or the reverse.

Tether CEO Paolo Ardoino described the U.S. dollar as a lifeline against inflation and capital controls in the region, and said EFY Finance is positioned to make dollar access easier through regulated infrastructure. EFY Finance co-founder and CEO Andrés Tobón said stablecoins are already part of the region’s financial system, and that the hard part is wiring them into bank accounts, local payment networks, cards and cross-border settlement. Cryptobriefing reported that Ardoino framed the deal around compliance and that Tobón called the partnership a step toward connecting digital dollars with traditional financial systems.

The regional numbers behind the deal

Chainalysis tied Latin American adoption to inflation, currency swings and capital controls. Brazil led the region with $318.8 billion in crypto value received, followed by Argentina at $93.9 billion, Mexico at $71.2 billion, Venezuela at $44.6 billion and Colombia at $44.2 billion.

Stablecoins accounted for more than half of exchange purchases involving the Colombian peso, Argentine peso and Brazilian real between July 2024 and June 2025. A separate figure from Bitso’s 2025 report found dollar-backed tokens made up 40% of crypto purchases on its platform, against 18% for Bitcoin.

The EFY deal follows Tether’s reported July 2026 investment of $20 million in Argentine digital bank Ualá, which Cryptobriefing described as part of a larger funding round involving institutional investors and financial services companies. That same month, Hyundai Motor’s U.S. and Mexican operations completed a pilot sending $20,000 in USDT over the Avalanche blockchain, settling in about seven minutes.

Why it matters

EFY Finance gives Tether a single relationship covering more than 17 countries and more than 12 currencies, turning the firm into a distribution channel for a portfolio that now spans both USDT and the bank-issued USAT. Tether also gains an infrastructure partner with a formal license in El Salvador and existing banking connections, rather than a consumer-facing brand.

The arrangement also shows Tether pairing a regulated, U.S.-focused token with its flagship stablecoin. Cryptobriefing noted that regulatory treatment of stablecoins varies widely across the countries where EFY operates, and that an El Salvador license does not automatically smooth the path in Bolivia or Colombia.

What to watch

The October 13 announcement did not identify which blockchains EFY Finance will use for new payment products, nor did it disclose projected transaction volumes, institutional customer commitments or expected revenue. Neither company has set a timetable for launching new products, entering additional countries or disclosing the terms of the round.

Disclaimer: This article is for information only and is not investment, financial or trading advice. Cryptocurrency prices are highly volatile. Always do your own research.

Sources: Blockonomi, Crypto.news, Cryptobriefing