Tether has invested in Parfin, a digital asset platform operating out of London and Rio de Janeiro, in a move aimed at expanding onchain settlement infrastructure and pushing USDT further into Latin America’s institutional market.
The company said the investment reinforces its goal of positioning USDt (USDT$1) as a preferred settlement rail for high-value operations, including cross-border payments, real-world asset tokenization, and credit markets tied to trade finance, commercial invoices and card receivables.
Founded in 2019, Parfin provides tools for institutions to custody, tokenize and transact digital assets. The firm secured registration in Argentina in October as a virtual asset service provider and has been active in Brazil since 2020.
Tether CEO Paolo Ardoino said the investment reflects the company’s confidence in Latin America as one of the global powerhouses for blockchain innovations.
USDT, the world’s largest stablecoin, has a market capitalization of roughly $183.73 billion, according to DefiLlama, while the total stablecoin market sits at about $303.2 billion.
Tether did not disclose the size of the investment. It comes shortly after the company also backed Ledn, a Bitcoin-backed lending platform.
Latin America maintains rapid crypto adoption
Latin America continues to strengthen its position as a major crypto market. According to an October Chainalysis report, the region saw nearly $1.5 trillion in crypto transactions from July 2022 to June 2025.
Brazil led the region with $318.8 billion in inflows, making up nearly one-third of all LATAM activity, followed by Argentina with $93.9 billion.
Economic conditions have played a significant role in adoption. Countries such as Argentina have struggled with prolonged inflation, including a severe peso run in September that forced the central bank to deploy more than $1 billion to stabilize the currency.
Stablecoins have increasingly been used as a hedge. A Bitso report from March said stablecoins have become a “store of value” for many across the region. In 2024, USDT and USDC (USDC$1) accounted for 39% of all crypto purchases on the exchange.
Beyond inflation concerns, Latin Americans are turning to crypto for everyday payments, savings, and low-cost remittances that bypass traditional banking rails such as SWIFT.