The company Tether, which issues the USDT stablecoin, has made an investment in the Chilean cryptocurrency exchange Orionx. The participation in the funding took place within the framework of a Series A round, marking an important step towards expanding digital financial services in Latin America.
This is reported by Finway
Expanding Orionx’s Capabilities in the Region
The Orionx exchange is already actively operating in the markets of Chile, Peru, Colombia, and Mexico. With Tether’s support, the company plans to consolidate its regional operations, strengthen its technological base, and scale its stablecoin-focused infrastructure. This will enable more efficient responses to the needs for remittances, payment acceptance, and treasury services across Latin America.
“Thanks to this investment, the company will be able to consolidate regional operations, enhance its technological capabilities, and scale its stablecoin-based infrastructure to meet the needs for remittances, payment acceptance, and treasury services throughout Latin America,” Tether stated.
Additionally, Tether emphasized that Orionx will focus on developing channels for transaction processing and fiat gateways, as well as simplifying the onboarding of new users. Merchants will be given the ability to accept payments in stablecoins, facilitating the integration of cryptocurrencies into business processes.
The Strategic Role of the Investment for Tether
Tether’s CEO Paolo Ardoino highlighted that the completion of this investment round not only supports a promising company but also aligns with Tether’s strategy to expand access to stablecoin-based financial instruments for underserved communities in the region. According to Ardoino, this is an important step towards increasing financial inclusion in Latin America.
Previously, in May 2023, the cryptocurrency exchange Bitfinex also invested in Orionx, indicating a growing interest from global players in the regional cryptocurrency market.