Strategic Push Toward Financial Inclusion
Tether has made a strategic investment in Orionx, a Chile-based cryptocurrency exchange that also operates in Peru, Colombia, and Mexico. The investment marks the closing of Orionx’s Series A funding round, which was led by Tether. This move is a significant step in Tether’s broader goal to drive crypto adoption in Latin America, a region with a large unbanked population and increasing demand for digital financial services.
Latin America: A High-Growth Crypto Region
According to data from Chainalysis, Latin America saw nearly $415 billion in cryptocurrency transactions in the year leading up to June 2024. The region also has the second-highest proportion of unbanked adults globally, making it a key market for blockchain-based financial tools.
Tether aims to leverage this investment to enhance its footprint in a region where stablecoins offer a much-needed alternative to traditional banking.
Building Cost-Efficient Financial Tools
The partnership between Tether and Orionx focuses on delivering cost-effective solutions for underserved communities. Key areas of development include payment collection, distribution, and treasury management, particularly for small businesses and B2B operations.
“By closing Orionx’s Series A round, we are not only supporting a high-impact company but also advancing our broader vision of making stablecoin-powered financial tools accessible,” stated Tether CEO Paolo Ardoino.
Orionx CEO Joel Vainstein echoed the sentiment, calling the deal a “turning point” in their business model. He emphasized that the collaboration will enhance their B2B services and provide new infrastructure for digital payments across Latin America.
Strengthening the Regional Crypto Ecosystem
The investment also follows a previous funding round for Orionx in 2023, led by Bitfinex, a sister company of Tether. These consecutive investments show a coordinated effort by the Tether ecosystem to strengthen localized crypto infrastructure and create a long-term presence in emerging markets.
This partnership represents a clear alignment of vision: using blockchain to solve real-world financial problems in regions where traditional systems fall short.
Outlook
As Tether continues to expand outside of traditional markets, Latin America emerges as a key region for growth and innovation. With Orionx as a local partner, Tether is well-positioned to drive adoption of stablecoin-powered solutions that can bring digital finance to millions of unbanked users across the continent.
