The stablecoin tether issuer has announced a strategic investment in Orionx, an exchange of chiptomonets based in Chile that operates in Peru, Colombia and Mexico.
The investment closes the increase in Orionx Series A, which was directed by Tether. The exchange also increased an unrelated amount in 2023 in a round directed by Bitfinex, Tether’s sister company.
Tether will use the investment to improve its presence in Latin America, a region that has the second highest proportion of non -banking adults. The region also received almost $ 415 billion in cryptography in a calendar year until June 2024, according to Chainysis.
“When closing the Orionx Serie A round, we are not only supporting a high -impact company, but also advance our broader vision of making the financial tools with stable that work with stabilization accessible to unattended communities throughout the region,” said Paolo Ardoino, CEO of Tether in a blog post.
Joel Vainstein, CEO of Orionx, added that the collaboration “marks a turning point” in the B2B vision of the company and that will produce more “profitable solutions for the collection of payments, the distribution and management of the treasure.”
