Tether, the world's largest stablecoin issuer, has led a $14 million Series A funding round for Belo, an Argentine cryptocurrency wallet and services provider. The round also saw participation from Titan Fund, The Venture City, Mindset Ventures, G2, and other seed investors. The size of this round, dwarfing Belo's $3 million seed round in May 2022, underscores the rapidly growing digital asset landscape in Latin America and the aggressive positioning of investors betting on the region's crypto adoption.
Manuel Beaudroit, CEO of Belo, stated: “We entered this round with three years of profitable operations and a product that people use in their daily lives. We found an investor who understands what we’re building and who we’re building it for. That alignment is what brought us here. This round isn’t about sustaining the business. It’s about scaling it.” He emphasized that Tether's involvement reflects a shared vision to build a more open and accessible financial infrastructure, particularly for users facing financial challenges.
Expansion Plans Across Latin America
With the fresh capital, Belo plans to enter six new Latin American markets: Mexico, Chile, Colombia, Peru, Bolivia, and Paraguay. In Brazil, where the platform is already operational, the company will focus on deepening adoption among freelancers, remote workers, and users navigating multi-currency environments. Belo also intends to strengthen its local teams in these markets to ensure regulatory compliance and tailored marketing strategies.
Edwin Rager, Strategy Director at Belo, added: “This round gives us the resources to build on what already works, expand our presence in the region, enter new markets, and strengthen the team. It marks a new phase for the company.”
Tether's Strategic Bet on Latin America
This investment aligns with Tether's broader strategy to support crypto infrastructure in high-inflation and high-remittance regions. Latin America, with countries like Argentina experiencing severe inflation and currency volatility, has become a fertile ground for stablecoins and crypto-based financial services. Tether's backing not only provides capital but also lends credibility to Belo's vision of an open financial system.
Belo has operated profitably for three consecutive years, validating its business model of offering crypto buying, selling, storing, and payment solutions to both individuals and businesses. The company's user base includes freelancers, remote workers, and small businesses that rely on multi-currency capabilities to mitigate local currency risks.
With this Series A round, Belo aims to complete regulatory approvals in all target markets within 2026 and deploy localized teams to drive growth. Tether's participation further signals the stablecoin issuer's commitment to expanding access to digital dollars across emerging economies.