Tether Invests In EFY To Expand Latin America Stablecoin Use

Tether announced the investment on Oct. 13. The companies plan to connect stablecoins with financial services such as bank accounts, payment cards and cross-border transfers.

EFY provides digital-asset custody, local-currency-to-stablecoin conversion and access to accounts. Its platform lets businesses send stablecoins internationally while recipients receive funds in local bank accounts. Businesses can manage payments, review rates and track transfers through the platform.

EFY already supports settlement to local accounts in 17 countries. Its operations and local relationships include Bolivia, Colombia, Mexico, El Salvador, Panama and Ecuador. The announcement covers USDT and USA₮.

The investment does not mark the launch of settlement services in 17 new countries. EFY announced its 17-country coverage in February and updated it in July. The service allows users to transfer money to business accounts in supported destinations without opening a separate operating account in each country.

Access depends on the destination, currency, account type and compliance requirements. Banking hours and payment routes can affect how quickly funds reach a local account. Coverage does not mean every service is available to every customer.

EFY CEO Andres Tobon described the company’s next goal as developing tools that let businesses add stablecoins to their existing workflows. Tether’s investment will support payment infrastructure and distribution, with the companies’ work focused on EFY’s existing markets.