Tether has invested in the digital asset platform Parfin, headquartered in London and Rio de Janeiro, to push USDT deeper into the institutional market in Latin America and expand on-chain settlement in the region.
According to Tether, this investment highlights its efforts to position USDt as a high-value channel for institutional settlement activities, including cross-border payments, tokenization of real-world assets (RWA), and credit markets related to trade finance, commercial invoices, and credit card receivables.
Founded in 2019, Parfin builds infrastructure for institutions to custody, tokenize, and trade digital assets. In October, the company obtained official registration as a virtual asset service provider in Argentina and received recognition from the country's financial regulatory authority. The company has been operating in Brazil since 2020.
Tether CEO Paolo Ardoino stated that this investment reflects the company's "confidence in Latin America as one of the global powerhouses of blockchain innovation."
According to DefiLlama, Tether's USDT is the largest stablecoin in the world, with a market capitalization of approximately $183.73 billion. The total market capitalization of all stablecoins is about $303.2 billion.
The scale of Tether's investment has not been disclosed, and this investment was made just days after its investment in the Bitcoin collateral lending platform Ledn.
According to a report from Chainalysis in October, Latin America has become a leading cryptocurrency hub. From July 2022 to June 2025, the region's cryptocurrency trading volume is nearly $1.5 trillion. Brazil leads with $318.8 billion in cryptocurrency inflows, accounting for nearly one-third of all activity in Latin America, followed closely by Argentina with $93.9 billion.
One of the main drivers of cryptocurrency adoption in Latin America is the search for protection against inflation. For example, Argentina has struggled with soaring inflation for years, and in September, the country faced a peso run that forced its central bank to spend over $1 billion.
Stablecoins have proven to be one of the solutions to this problem. The Mexican cryptocurrency exchange Bitso stated in a report in March that stablecoins have become a "store of value" for many citizens in Latin America. In 2024, USDT and Circle's USDC accounted for 39% of all cryptocurrency purchases on the platform.
Latin Americans are also turning to cryptocurrencies to fill the gaps in the region's banking system, using stablecoins for everyday payments, savings, and cheaper remittances, thereby avoiding high fees associated with SWIFT.
As the CEO of Bybit's Latin America division told Cointelegraph in October, "Cryptocurrency is truly changing people's lives in the region."
Related: Survey shows that "financially savvy" crypto retail investors in Singapore value trust over low fees
Original: “Tether invests in Parfin to drive institutional adoption of USDT in Latin America”
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