Tether backs Parfin to push institutional USDT adoption across Latin America

Tether just dropped serious cash on Parfin — a London- and Rio-based digital asset platform — to shove USDT deeper into LATAM's institutional scene and expand onchain settlement across the region. This isn't just pocket change; it's Tether's power move to position USDT as the go-to settlement rail for high-value institutional activities like cross-border payments, RWA tokenization, and credit markets tied to trade finance, commercial invoices, and card receivables.

Parfin, founded in 2019, builds the backbone for institutions to custody, tokenize, and transact digital assets. They just scored official registration in Argentina as a virtual asset service provider in October (shoutout to the country's financial regulator) and have been grinding in Brazil since 2020.

Let's talk numbers: Tether's USDT is the undisputed king of stablecoins with a market cap of ~$183.73B (per DefiLlama), while the entire stablecoin market sits at ~$303.2B. The investment size? Tether's keeping that card close to their chest — but it comes hot on the heels of their recent investment in Ledn, a Bitcoin-backed lending platform.

Chainalysis dropped an October report confirming what we already knew: LATAM is a crypto powerhouse. From July 2022 to June 2025, the region saw nearly $1.5T in crypto transactions. Brazil leads the pack with $318.8B in crypto inflows (nearly a third of all LATAM activity), while Argentina follows with $93.9B.

Why the crypto craze? Inflation protection is a massive driver. Argentina's been battling soaring inflation for years, with a September peso run forcing the central bank to burn over $1B. Stablecoins have become the people's shield — Mexico-based Bitso reported in March that USDT and Circle's USDC made up 39% of all crypto purchases on their platform in 2024, calling stablecoins a 'store of value' for LATAM citizens.

Beyond inflation, crypto is filling the gaps in LATAM's banking systems — people are using stablecoins for daily payments, savings, and cheaper remittances that dodge SWIFT's ridiculous fees. As the CEO of Bybit's LATAM division told Cointelegraph in October: 'Crypto is actually changing the lives of people' in the region.