Tether Invests in Orionx, Boosting Cryptocurrency Adoption Across Latin America

Stablecoin issuer Tether has announced a strategic investment in Orionx, a leading cryptocurrency exchange based in Chile. This investment aims to boost cryptocurrency adoption and enhance financial accessibility across Latin America. Orionx operates in Chile, Peru, Colombia, and Mexico, focusing on integrating digital assets into both business and retail systems.

The investment is part of Orionx’s Series A funding round, which was led by Tether. The exchange also raised an undisclosed amount in 2023 in a round led by Bitfinex, Tether’s sister company. This strategic move is expected to drive significant growth in stablecoin usage and improve market liquidity, particularly through the use of USDT.

Paolo Ardoino, CEO of Tether, emphasized the company’s commitment to advancing financial inclusion and strengthening resilient digital payments channels across emerging markets. “By closing Orionx’s Series A round, we are not only supporting a high-impact company but also advancing our broader vision of making stablecoin-powered financial tools accessible to underserved communities across the region,” Ardoino stated.

Joel Vainstein, CEO of Orionx, added that the collaboration "marks a turning point" in the company’s B2B vision and that it will produce more "cost-efficient solutions for payment collection, distribution, and treasury management."

The investment is expected to influence regional regulatory attitudes, fostering greater acceptance of cryptocurrencies in B2B markets and potentially prompting similar investments. This could strengthen the sector’s resilience amid economic fluctuations in Latin America. Latin America has seen a significant increase in cryptocurrency transactions, driven largely by stablecoins in response to inflation challenges. The investment is expected to further accelerate this trend, making digital assets more accessible and reliable for everyday transactions.

The strategic partnership between Tether and Orionx is poised to revolutionize the financial landscape in Latin America, providing affordable and efficient financial tools to a broader audience. This move is likely to have a ripple effect, encouraging other players in the cryptocurrency space to invest in the region, thereby fostering a more robust and inclusive financial ecosystem.

In summary, Tether’s investment in Orionx represents a significant milestone in the adoption of cryptocurrencies in Latin America. By focusing on stablecoin-driven remittance services, the partnership aims to enhance financial accessibility and drive growth in the region’s digital asset market.