Tether Backs Plenti's Latin America Expansion with $3 Million Investment

Tether, the issuer of USDT, has backed Plenti's expansion into Latin America with a $3 million investment. The fintech company will use this funding to grow its presence in Colombia and enter new markets in Peru and Bolivia.

Plenti's app allows users to hold, move, and invest money in foreign currencies without opening offshore bank accounts. It currently supports transactions in US dollars, euros, and Colombian pesos, as well as tokenized gold.

The company has already gained traction in Colombia with over 150,000 active users and annual transaction volume exceeding $3.1 billion. Tether's investment gives it a direct stake in Plenti's growth and expansion plans.