Tether, the largest stablecoin company in the cryptocurrency industry, has doubled down on its bet to increase the adoption of its products and services in Latin America (Latam).

The company completed an undisclosed investment in Parfin, a company that provides crypto services, including stablecoin solutions, digital assets’ brokerage, and bank-focused blockchain onboarding, for institutions in Latam.

The investment would be focused on securing the inclusion of USDT, Tether’s signature stablecoins, as part of the products that Parfin manages, including its Crypto-as-a-Service (CAAS) solution, which features embedded compliance.

For Tether, the Parfin’s regulated approach to decentralized solutions is of utmost relevance, given that it “facilitates the use of blockchain technology, ensuring it not only complies with strict regulatory standards but is also scalable to meet market demand.”

Paolo Ardoino, CEO of Tether, highlighted the significance of companies like Parfin, explaining that it brings traditional finance and blockchain closer together, bridging the gap between them and facilitating the onboarding of users and institutions.

“This investment also reflects our belief in Latin America as one of the global powerhouses for blockchain innovations,” Ardoino stressed.

“Tether’s investment is a strong validation of our vision to accelerate the integration of tokenization applications and USDT into our institutional-grade blockchain and digital assets solutions,” said Parfin CEO Marcos Viriato.

Read more: Tether Moves Into Bitcoin-Backed Lending With Strategic Ledn Stake

Tether’s investment seeks to better position USDT as one of the regulated stablecoins to power Parfin’s solutions. This would, consequently, give it an even larger foothold in the institutional market in Latam, where it is one of the stablecoins with the highest levels of retail adoption.

Tether itself reinforces the size of Latam’s crypto ecosystem, pointing out that the region registered nearly $1.5 trillion in cryptocurrency transaction volume.

Given its previous investments in emerging markets and Latam, Tether is likely to keep putting funds behind securing its dominance and adoption in these markets, commonly underserved by other established cryptocurrency participants.

• What recent investment did Tether make in Latin America?
  Tether invested in Parfin, a company offering crypto services like stablecoin solutions and blockchain onboarding for institutions in Latin America.

• What is the goal of Tether’s investment in Parfin?
  The investment aims to integrate Tether’s USDT stablecoin into Parfin’s Crypto-as-a-Service (CAAS) solution, enhancing compliance and regulatory standards.

• Why is the partnership with Parfin significant for Tether?
  Parfin’s regulated approach helps bridge traditional finance and blockchain, positioning USDT as a compliant option for institutions in the growing Latin American market.

• What does this mean for the crypto ecosystem in Latin America?
  With nearly $1.5 trillion in cryptocurrency transaction volume, Tether’s investment solidifies its presence in a rapidly growing market with high retail adoption of stablecoins.

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