Tether Leads Strategic Investment in Orionx to Increase Stablecoin Adoption in Latam
Sergio Goschenko
Crypto News
Tether Leads Strategic Investment in Orionx to Increase Stablecoin Adoption in Latam
With this investment, Tether leads Orionx’s Series A funding round for an undisclosed amount, aiming to expand the company’s foothold in Latam. The region is considered a fertile market for stablecoin-based financial services, as it has the second-largest proportion of unbanked adults.
Tether Leads Orionx Series A Funding Round
Tether, the leading stablecoin company, has announced a strategic investment in Orionx, a Chile-based, stablecoin-focused financial services company. The undisclosed investment closes Orionx’s series A funding round and positions Tether as the leader in this process.
The funds will be leveraged to accelerate the expansion of Orionx’s solutions across Latam, having already a foothold in several countries in the region, including Chile, Peru, Colombia, and Mexico.
Orionx’s systems enable the integration of stablecoins for several use cases, including serving businesses with platforms capable of completing cross-border payments and providing fiat ramps.
With this investment, Tether reaffirms its focus on the Latam market, positioning solutions to help consolidate cryptocurrency as an alternative for the region. In this sense, Tether CEO Paolo Ardoino stated that this move not only supported a “high-impact company” but also advanced Tether’s vision of “making stablecoin-powered financial tools accessible to underserved communities across the region.”
Tether’s focus in Latam is not gratuitous. According to E-Marketer, the region is home to the second-largest proportion of unbanked adults, making it a fertile market to implement stablecoin-based solutions. The company also relocated its headquarters to El Salvador, establishing a base that will allow it to focus on emerging markets with no easy access to U.S. dollars.
Joel Vainstein, CEO of Orionx, highlighted the significance of this move for the company’s operations. He declared:
Having Tether, the undisputed global leader in stablecoins, by our side will allow us to accelerate this path with digital, flexible, and scalable solutions.
The move is part of a series of investments made by the stablecoin giant to diversify its income sources, injecting funds in several fields, including artificial intelligence, green energy, cryptocurrency mining, and even agriculture.
Read more: Tether Completes $615 Million Purchase of Latam Agricultural Giant Adecoagro
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