On October 13, Tether announced its investment in EFY Finance through participation in its seed funding round, aiming to accelerate the institutional applications of USD₮ and USA₮ and strengthen the infrastructure connecting stablecoins with the traditional financial system in Latin America. EFY Finance is a financial infrastructure company providing cross-border payment, account, and digital asset custody services based on stablecoins in Latin America. It offers USD₮ and USA₮ deposit and withdrawal channels, OTC services, wallets, and cards, covering over 12 currencies and channels, and settling to local accounts in 17 countries. The company holds a digital asset service provider license in El Salvador, providing regulated services to over 25,000 active individual and corporate accounts. Tether stated that EFY has a strong business foundation in Bolivia, Colombia, Mexico, El Salvador, Panama, and Ecuador.
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Tether Invests in EFY Finance to Accelerate Institutional Stablecoin Adoption in Latin America
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