Tether Invests in Orionx to Boost Latin American Crypto Adoption
Tether has made a strategic investment in Orionx, a cryptocurrency exchange in Chile that also operates in Peru, Colombia, and Mexico. This funding completes Orionx's Series A raise, which Tether led.
- The investment aims to strengthen Tether's presence in Latin America, a region with a high proportion of unbanked adults.
- Latin America received nearly $415 billion in crypto transactions over one year until June 2024, highlighting its market potential.
- Tether's CEO, Paolo Ardoino, stated the investment supports financial accessibility for underserved communities.
- Orionx's CEO, Joel Vainstein, noted the collaboration will enhance B2B solutions for payment collection and treasury management.