Tether backs Peso and mining integration, targets USD₮ growth in Latin America

Tether , the issuer of the USD₮ stablecoin, is advancing its strategy in the digital asset sector with a dual focus on expanding stablecoin-powered payments in Latin America and strengthening Bitcoin mining infrastructure through open-source initiatives. On October 21, 2026, Tether announced its financial backing of Peso, a Bolivian fintech company, in a pre-seed funding round. Peso aims to broaden its USD₮-based financial services across Latin America, including in Bolivia, Brazil, Colombia, and Argentina. Peso offers users an international account denominated in USD₮, enabling saving, spending, investing, and cross-border money transfers through a single app. In Bolivia, Peso customers can use USD₮ to pay for everyday purchases, such as food via Yango.

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