Tether Invests in Chilean Crypto Exchange Orionx to Expand LATAM Reach
Tether, the issuer of the USDT stablecoin and one of the most prominent companies in the digital asset space, has led a Series A investment round in Orionx, a Chile-based cryptocurrency exchange and financial infrastructure firm with operations across Latin America. The investment, announced Tuesday, will allow Orionx to strengthen its presence in key regional markets, including Chile, Peru, Colombia, and Mexico. Tether’s involvement underscores growing institutional interest in Latin America’s crypto ecosystem, particularly in areas such as remittances and digital payments infrastructure. While financial terms of the investment were not disclosed, the deal formally closes Orionx’s Series A round and marks Tether’s latest strategic effort to expand the use of stablecoins in emerging markets. Push to Expand Stablecoin Use in Cross-Border Payments According to the companies, the funding will be used to enhance Orionx’s technical capabilities and scale its stablecoin-powered platform, which supports cross-border payments, treasury management, and digital remittance services. The platform also provides tools for local fiat on- and off-ramps, enabling smoother user transitions between traditional currencies and digital assets. Tether’s CEO, Paolo Ardoino, said the company sees this partnership as part of a broader plan to make stablecoin-based financial tools more accessible in underserved regions. “Tether is continuously expanding its mission to foster financial inclusion by investing in technologies and teams that deliver real-world value through stablecoin in emerging markets,” said Paolo Ardoino, CEO of Tether. Orionx, which caters to both business and retail users, said demand is rising for crypto-based financial services that reduce transaction costs and settlement times. The move follows a broader trend of crypto adoption across the region. A 2024 report by blockchain analytics firm Chainalysis noted that Latin America received approximately $415 billion in crypto transactions between July 2023 and June 2024, with stablecoins making up a significant portion of indirect exchange flows, especially in countries like Brazil and Argentina. Financial Inclusion Remains a Regional Challenge Despite the rise in digital asset usage, Latin America still faces high levels of financial exclusion. According to the World Bank, the region has the second-highest rate of unbanked adults globally. Limited access to financial services, geographic isolation, and high transaction fees have left millions without reliable banking options. Tether and Orionx say their collaboration aims to address these issues by offering faster and lower-cost alternatives through blockchain-based tools. Orionx’s infrastructure is designed to allow businesses to integrate stablecoin settlement into payment and treasury functions without relying on conventional banking systems. Orionx CEO Joel Vainstein said the partnership marks a key step in expanding business-to-business crypto adoption in the region.