Stablecoin Tether has announced a strategic investment in Orionx, an cryptocurrency exchange based in Chile which operates in Peru, Colombia and Mexico.
The investment closes the A series A of Orionx, which was led by Tether. The exchange also increased an undisclosed amount in 2023 in a tour led by Bitfinex, the company Sister de Tether.
TETHER will use investment to improve its presence in Latin America, a region that has the second largest proportion of unknown adults. The region also received nearly $ 415 billion in crypto during a calendar year until June 2024, according to Chainalysis.
“By closing the series A series A of Orionx, we not only support a strong impact company, but we are also advancing our broader vision of making financial tools fueled by stables accessible to unprecedented communities in the region,” said Paolo Ardoino, CEO of Tether in a blog article.
Joel Vainstein, CEO of Orionx, added that the collaboration “marks a turning point” in the B2B vision of the company and that it will produce “more profitable solutions for the collection of payments, distribution and management of the treasury”.
