Woofun AI reports that Argentina-based digital bank Ualá has finalized a $197 million financing round. The investment was led by Allianz X, the strategic investment arm of Allianz Group, with Tether providing $20 million in capital. This transaction follows an announcement made in March, which established Ualá's valuation at $3.2 billion. The platform currently serves over 11 million users across Argentina, Mexico, and Colombia. Ualá intends to allocate the new capital toward expanding its operational footprint in Latin America, with a specific focus on the Mexican market. Pierpaolo Barbieri, founder and CEO of Ualá, clarified that the investment will not facilitate the integration of stablecoins into the platform, citing regulatory prohibitions for banks operating in these jurisdictions.