Belo Raises $14M Series A Led by Tether

Latin America's cross-border payments facilitator, the digital wallet Belo, has raised $14 million in a Series A round led by Tether. The platform allows users to store and transfer local currencies alongside digital dollars, reaching over 3 million people in the region.

Belo's Series A Round and Investors

The Buenos Aires-based company will use this capital to expand into countries like Mexico, Chile, Colombia, Peru, Bolivia, and Paraguay. It will strengthen its presence in Brazil by focusing on freelancers, remote workers, and segments involved in cross-border money transfers. CEO Manuel Beaudroit stated that they have been integrated into daily life with a profitably growing product for three years and will use the investment for scaling. Investors like Titan Fund, The Venture City, Mindset Ventures, and G2 also supported the round.

Stablecoin Payment Revolution in Latin America

Founded in 2021, Belo combines payments, forex transactions, and international transfers into a single flow using crypto infrastructure behind the scenes. In high-inflation and volatile exchange rate environments where traditional banking falls short, stablecoins stand out as tools for value storage, migrant remittances, and overcoming expensive forex fees. Belo aims to eliminate the need for users to shuttle between multiple services, thereby reducing delays and costs. The company is also expanding its product, engineering, and operations teams to grow its regional footprint. Crypto tools like BTC detailed analysis offer integrable opportunities with stablecoins in Belo's infrastructure.

Tether's Latin America Strategy

Tether's investment in Belo signals the rapid spread of stablecoin-based payment networks for in-demand dollar-pegged assets in Latin America. Crypto tools are starting to fill the gaps in covering individuals and companies neglected by traditional finance. As Beaudroit also noted, this transition strengthens the sector's role in daily transactions. The BTC futures market also reflects similar cross-border liquidity needs.

Belo's Future Expansion

Belo plans rapid growth in Mexico and other markets by strengthening its teams with the new investment. This move increases the potential to integrate stablecoin ecosystems like the USDT spot market into daily payments.