Tether, the company behind the world’s largest stablecoin USDT , said Thursday it invested in Parfin, a Latin American crypto firm that builds digital asset infrastructure for institutions.
The firm said the deal would help scale tools for banks and institutions to move more of their operations onto blockchain rails, a shift tether seen as critical for making crypto infrastructure more practical and accessible in regions with limited financial infrastructure.
The companies did not disclose the details of the investment.
The investment is part of Tether’s larger push to deepen its footprint in emerging markets and expand the real-world use of USDT for cross-border payments and asset tokenization. The partnership also indicates that Tether, long seen as a retail-focused stablecoin that catered for emerging market users, is now being pushed deeper into the institutional layer of crypto finance.
Parfin offers blockchain-based custodial, tokenization, and settlement tools aimed at financial institutions. Its services are tailored for use cases such as trade finance, credit markets, and institutional payments, areas where Tether would like to see wider adoption of USDT as a settlement method.
Read more: Tether invests in Ledn to expand Bitcoin lending amid faltering demand
