Key Takeaways:
Argentinian crypto payments company Belo has raised $14 million in a Series A funding round led by stablecoin issuer Tether to expand its services across Latin America, a region where USDT already dominates digital currency flows.
"We reached this round with three years of profitable operations and a product that people use in their daily lives," Manuel Beaudroit, CEO of Belo, said in a statement. "This round is about scaling."
The funding round included participation from Titan Fund, The Venture City, Mindset Ventures, and G2. Belo, founded in Buenos Aires in 2021, provides a digital wallet to over 3 million users, allowing them to hold and transfer local currencies alongside digital dollars. The company plans to use the capital to launch operations in Mexico, Chile, Colombia, Peru, Bolivia, and Paraguay while deepening its presence in Brazil, targeting freelancers and remote workers.
Tether's investment highlights a core strategy for stablecoin issuers: funding the development of real-world use cases to drive demand for their tokens. In Latin America, where high inflation and currency volatility are persistent issues, dollar-pegged stablecoins like USDT serve as a crucial alternative to traditional banking. A 2025 report by Artemis Analytics noted that USDT accounts for the majority of stablecoin usage across the region. Belo’s platform uses this existing demand, offering a streamlined application that combines payments, foreign exchange, and cross-border transfers.
The deal is part of a wider trend where venture capital is backing companies that use blockchain technology as back-end infrastructure rather than a consumer-facing product. Recently, fintech firm Fence raised $20 million in a round led by Galaxy Digital to overhaul the $6 trillion asset-backed finance market using a similar "blockchain-in-the-background" approach. Both deals suggest investors are prioritizing the core plumbing of digital finance.
For Belo, the focus is on filling a gap left by the incumbent financial system. "Crypto will be starting to do what the traditional financial services haven't done, which is servicing people and their companies," Beaudroit told CoinDesk. The company is actively hiring for product, engineering, and operations roles to support its regional expansion, betting that crypto-powered rails can offer a faster and cheaper solution for moving money across a fragmented continent.
This article is for informational purposes only and does not constitute investment advice.
