Tether has made a strategic investment in Parfin, a Brazilian-based digital asset infrastructure provider, to accelerate the adoption of cryptocurrencies for institutional use in Latin America.

Parfin provides a suite of services including digital asset custody, trading, tokenization, and management for financial institutions in the region. The partnership is designed to boost the use of Tether's USDT stablecoin, particularly for B2B cross-border payments and other institutional financial applications. This move highlights the growing demand in Latin America for stable financial instruments amid local currency volatility.

Parfin is already collaborating with major local institutions, including Brazil's third-largest bank, Banco Bradesco, on pilot programs for tokenized assets. Tether's investment will support Parfin in scaling its operations and further developing its platform to meet the needs of the growing institutional market.

This investment signals a broader strategy by Tether to embed its technology within the traditional financial system, focusing on high-growth emerging markets. It underscores the increasing competition among stablecoin issuers to establish a foothold in regions ripe for a digital financial transformation.

Read More:
https://tether.io/news/tether-invests-in-parfin-to-accelerate-institutional-use-cases-of-digital-assets-in-latam/