Peso, the Bolivian fintech that offers a global account in digital dollars, closed a pre-seed round led by Tether, the issuing company of the USDT stablecoin. Tether announced the investment on October 21 without reporting the amount or valuation.
From a single app, Peso allows you to save, spend, invest and send money abroad in USDT. In Bolivia, each user receives a virtual account in their name connected to the local banking system via QR and ACH transfers, allowing them to move fluidly between stablecoins and bolivianos.
The company also offers point-of-sale collections for businesses; Its first integration with a consumer app is Yango, where Bolivian users can now order food and pay in USDT directly from the platform. According to the company, Peso reached 100,000 active users in less than a year since its launch. At the helm is its CEO and co-founder, Alejandro Terán.
With the capital, Peso will expand its entry and exit ramps in its four active markets, Bolivia, Brazil, Colombia and Argentina, and will accelerate the deployment of its collection network for businesses and its virtual accounts.
“Latin Americans are already using USDT; what was missing was the infrastructure to spend it in daily life without friction. This investment allows us to accelerate what we have been building: that anyone in the region can open an account in minutes and use USDT daily, from paying with QR code to sending money abroad,” said Alejandro Terán.
Bolivia, the market where USDT seeks to become a currency of daily use
The investment comes at a time of transformation for the Bolivian financial system. In June 2026, Bolivia abandoned the fixed exchange rate that it had maintained since 2011, after years of foreign currency shortages, and since July the Government has been evaluating a proposal to recognize the USDT as a means of payment alongside the Bolivian and the dollar.
In this context, several fintechs are taking a position: Takenos completed its incorporation as a Financial Technology Company before the ASFI and Koywe added Bolivia as its eighth cross-border payments market with stablecoins.
For Paolo Ardoino, CEO of Tether, Peso is “building the kind of everyday spending infrastructure that turns USDT from a savings tool into a payments channel that people rely on every day.”
The bet fits into a broader Tether strategy in the region: the issuer also led the US$3 million seed of Plenti, the Medellín fintech that is expanding to Peru and Bolivia, and invested in Mural, the payments platform for companies focused on Latin America.
Stablecoin infrastructure for retail and digital services
The Peso model aims to make USDT a functional means of payment for everyday life, not just a savings or transfer instrument. The integration with Yango, a digital services platform that operates in Bolivia, is its first use case in mass consumption and opens a distribution channel for spending on stablecoins in high-frequency contexts such as food delivery.
The roadmap includes adding retail, e-commerce, app transportation and banking services, with the virtual account infrastructure as a layer that connects the USDT with the local financial rails of each country.
