Tether invests $20M in Ualá at $3.2B valuation
Tether invested $20 million in Argentine fintech Ualá in a funding round that values the company at $3.2 billion.
Tether, the issuer of the USDT stablecoin, announced a $20 million equity investment in Argentine fintech Ualá as part of a recent funding round that values the company at $3.2 billion.
According to Ualá, the new capital will support product development and expansion across the region, including operations in Argentina and Mexico.
Founded in 2017 and led by CEO Pierpaolo Barbieri, Ualá operates a mobile-first personal finance app and issues a prepaid Mastercard. The platform offers digital accounts, payments and credit products aimed at consumers who are underserved by traditional banks.
Tether is known for creating and maintaining the USDT stablecoin, which is widely used for trading and transfers in the cryptocurrency ecosystem. The $20 million equity investment links a stablecoin issuer with a consumer-focused fintech that provides traditional and digital payment services.
Ualá has raised capital from international investors in previous rounds and has expanded its product set and market presence since launching. The company did not disclose user totals or revenue in the announcement.
Neither company provided details on any operational or product-level collaboration tied to the investment.
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