Tether announced an investment in Orionx, a Chilean digital asset exchange specializing in cross-border payments. The investment, revealed today, aims to bolster financial inclusion and digital payment channels in emerging markets.
Orionx operates in Chile, Peru, Colombia, and Mexico, integrating cryptocurrencies into B2B and retail systems.
The investment, which closed Orionx's Series A funding round, will consolidate regional operations and enhance technological capabilities. It will also scale stablecoin-powered infrastructure for remittances, payment collection, and treasury services in Latin America (LATAM).
Chainalysis reported that LATAM received nearly $415 billion in cryptocurrency between July 2023 and June 2024. Stablecoins are increasingly used due to economic challenges like currency devaluation and inflation.
Tether's CEO, Paolo Ardoino, emphasized the company's mission to expand financial inclusion through stablecoins. Joel Vainstein, CEO of Orionx, highlighted the collaboration as pivotal for their B2B vision, enabling growth with digital solutions.