Finance Tether allocates $20 million to Argentine neobank Ualá in Latin America expansion
Ualá’s CEO stated that Tether is solely acting as a financial investor, citing existing regional regulations that hinder immediate USDT integration.
By Francisco Rodrigues|Edited by Oliver Knight Jul 16, 2026, 10:12 a.m. 1 min read
- Tether has invested $20 million in Ualá, an Argentine neobank serving over 11 million customers in Argentina, Mexico, and Colombia.
- The CEO of Ualá clarified that Tether is participating solely as a financial investor, pointing to current regulations that prevent immediate integration of USDT.
- This investment is part of Tether's ongoing efforts to expand in Latin America, following other investments in Belo, Adecoagro, and Mercado Bitcoin.
Leading stablecoin provider Tether has made a $20 million investment in Ualá, an Argentine neobank that boasts over 11 million users across Argentina, Mexico, and Colombia.
This investment is part of Ualá’s $197 million funding round announced in March, which was led by Allianz X and valued the company at $3.2 billion post-money.
Tether was first mentioned as a participant in Ualá’s funding announcement, with the exact $20 million investment disclosed later. Based on the valuation, this investment represents approximately a 0.6% ownership stake in the neobank's post-money equity, although the actual terms might vary.
Ualá provides various financial services, including accounts, cards, loans, and investment options to its extensive customer base across Argentina, Mexico, and Colombia.
According to Ualá’s CEO Pierpaolo Barbieri, as reported by Bloomberg, regulations in Argentina and Mexico currently inhibit any near-term integration of USDT, and Tether's involvement in this round is strictly as a financial investor.
Tether has made multiple investments in Argentina and the broader South American market, including leading a $14 million fundraising round for payments platform Belo in April, and it holds a 70% stake in agricultural and energy producer Adecoagro, which operates in Argentina, Brazil, and Uruguay. Earlier this month, Tether also invested $20 million in Brazilian cryptocurrency exchange Mercado Bitcoin.
Tether finances its investments using surplus capital generated from the income derived from the reserves backing the USDT stablecoin, which currently has $184 billion in circulation. The company reported a profit of $1.04 billion in the first quarter.
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Why it matters:
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