Argentina’s Belo Raises $14 Million in Series A Led by Tether

Argentina-based digital wallet company Belo has raised $14 million in a Series A funding round led by Tether.

CoinDesk reported on April 29 that Belo had completed the funding round. The company said the Series A raised a total of $14 million, with participation from Tether, Titan Fund, The Venture City and Mindset Ventures.

Belo plans to use the proceeds to expand across Latin America. The company aims to broaden its presence in Chile, Mexico, Peru and Colombia, while strengthening payments infrastructure across the region. In Brazil, it plans to target freelancers and remote workers, customer groups with strong demand for cross-border transfers.

Founded in Argentina in 2021, Belo now has more than 3 million users across Latin America. Chief Executive Officer Manuel Beaudroit said the funding was intended to support the company’s expansion. He added that Belo secured the investment after three years of profitable operations and by building products that users rely on in daily life.

The company also plans to add staff following the investment. Beaudroit said crypto is starting to provide services for individuals and businesses that traditional financial providers have not.

Tether’s investment reflects a push to expand stablecoin payment networks in emerging markets, where demand for dollar-linked assets is high. CoinDesk said stablecoins are gaining popularity as an alternative to traditional banking systems in economies facing high inflation or volatile exchange rates. In Latin America, they are often used to store value, send remittances and bypass costly foreign-exchange systems.