Stablecoin Issuer Tether announced a strategic investment in Orionx, a Chile -based cryptocurrency exchange operating in Peru, Colombia, and Mexico.
The investment closes the rise of the Orionx series, led by Tether. The exchange too raised an unspecified amount In 2023 in a twist led by Bitfinex, Tether’s brother’s brother.
Tether will use the investment to enhance its existence in Latin America, a region with second highest proportion of non -adults with age. The region also received nearly $ 415 billion worth of crypto in a calendar year until June 2024, according to Chainalysis.
“By closing Orionx’s Series A Round, we not only support a high-impact company but also promote our broader perspective on the production of financial tools enabled by Stablecoin accessible to underserved communities throughout the region,” said Paolo Ardoino, Tether’s CEO in A A Blog post.
Joel Vainstein, CEO of Orionx, added that the collaboration “marks a point of turning” to the company’s B2B vision and will produce more “great solutions for the collection of payment, distribution and wealth management.”
