Tether, the issuer of the USDT stablecoin, has invested in the cryptocurrency exchange Orionx as part of a Series A funding round. This decision is part of a strategy to develop digital assets and expand financial opportunities in Latin American countries.
This is reported by Business • Media
Orionx’s Activities in Latin America
The Orionx platform is already actively operating in Chile, Peru, Colombia, and Mexico. The exchange integrates cryptocurrencies into financial systems for both businesses and retail clients, providing access to modern financial tools. With Tether’s support, Orionx plans to strengthen its market position, expand its technological capabilities, and scale its stablecoin infrastructure to address remittance, payment acceptance, and treasury service needs across Latin America.
“With this investment, the company will be able to consolidate regional operations, enhance its technological capabilities, and scale its stablecoin-based infrastructure to meet remittance, payment acceptance, and treasury service needs throughout Latin America,” stated Tether.
Investment Goals and Future Plans
Tether’s investment will allow Orionx to expand its infrastructure for processing transactions, improve its fiat gateway operations, and streamline the process of attracting new users to the platform. The exchange will also enable merchants to accept payments in stablecoins, promoting the adoption of digital assets in the region.
Tether’s CEO Paolo Ardoino emphasized that participating in the funding of Orionx is not only a support for a promising company but also part of the company’s global strategy to enhance the accessibility of stablecoins for underserved communities in Latin America.
It is worth noting that earlier, in May 2023, the Bitfinex exchange also invested in the Chilean cryptocurrency exchange Orionx.