Woofun AI reports that Tether has invested $20 million in the Argentine digital bank Ualá, contributing to a broader $197 million funding round announced in March. Ualá intends to utilize these funds to accelerate its market expansion across Argentina, Mexico, and Colombia.

Ualá founder and CEO Pierpaolo Barbieri stated that USDT stablecoins will not be integrated into the platform in the short term due to the regulatory environment in Argentina and Mexico, with Tether participating solely as a financial investor. The company currently serves 11 million customers and holds a post-money valuation of $3.2 billion, with specific plans to prioritize growth in Mexico.