4 days ago
Stablecoin issuer Tether has announced a strategical concern successful Orionx, a cryptocurrency speech based successful Chile that operates successful Peru, Colombia, and Mexico.
The concern closes Orionx's Series A raise, which was led by Tether. The speech besides raised an undisclosed amount successful 2023 successful a circular led by Bitfinex, Tether's sister company.
Tether volition usage the concern to heighten its beingness successful Latin America, a portion that has the second-highest proportion of unbanked adults. The portion besides received astir $415 cardinal worthy of crypto successful a 1 calendar twelvemonth until June 2024, according to Chainalysis.
“By closing Orionx’s bid A round, we are not lone supporting a high-impact institution but besides advancing our broader imaginativeness of making stablecoin-powered fiscal tools accessible to underserved communities crossed the region," said Paolo Ardoino, Tether's CEO successful a blog post.
Joel Vainstein, Orionx's CEO, added that the collaboration "marks a turning point" successful the company's B2B imaginativeness and that it volition nutrient much "cost-efficient solutions for outgo collection, organisation and treasury management."
English (US) 