Tether backs Bolivian fintech bringing USDT payments to food delivery and banking

The investment will support Peso’s expansion across four Latin American markets, where it connects stablecoin payments to merchant services and local banking networks.

Tether has led a pre-seed funding round in Bolivian fintech Peso, which offers USDT payments through food delivery apps and local banking networks, to support the company’s expansion across Latin America.

In a Wednesday announcement, Tether said the investment will help Peso expand its stablecoin payment infrastructure across Bolivia, Brazil, Colombia and Argentina, including services that connect USDT with local currencies through banking and merchant payment systems.

Peso has integrated USDT payments into Yango’s food delivery service in Bolivia, allowing customers to pay for orders using the stablecoin. The fintech offers QR payments, point-of-sale services for merchants and virtual accounts linked to Bolivia’s banking system through ACH transfers. Tether did not disclose the size of its investment.

Source: Tether

The investment comes as other fintech companies expand USDT-based financial services in Bolivia. On Tuesday, lending platform Tala announced a partnership with El Dorado to offer credit directly through the digital wallet, allowing eligible customers to receive and repay loans in USDT on the Tempo blockchain.

Related: Tether, Kazakhstan cenbank mull tenge stablecoin and asset tokenization

Bolivia turns to stablecoins amid US dollar shortage

Bolivia has increasingly turned to stablecoins since 2025 amid a prolonged US dollar shortage and high inflation, with businesses beginning to accept USDT for purchases as access to foreign currency became more difficult.

In November 2025, the government announced plans to integrate cryptocurrencies and stablecoins into the financial system, including allowing banks to offer digital asset custody and crypto-linked financial products.

The government subsequently began considering a regulatory framework in July 2026 that would recognize USDT for payments, savings and trade alongside the boliviano and US dollar.

The proposal came as Bolivia struggled with a prolonged dollar shortage after abandoning its longstanding currency peg in June, fueling demand for dollar-denominated alternatives such as USDT, as Cointelegraph reported in July.

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