Tether Invests in Parfin to Boost USDT Adoption in Latin America
Tether’s acquisition of Latin American custody platform Parfin aims to expand blockchain-based financial tools and stablecoin use across institutional markets in the region.
Tether announced it has acquired Parfin, a Latin American digital asset custody and blockchain solutions provider, to accelerate institutional adoption of its USDT stablecoin in the region. Parfin offers services including custody, tokenization, and blockchain settlement for banks, credit markets, and trade finance. The acquisition builds on Tether’s strategy to integrate blockchain infrastructure into institutional finance in Latin America, improving efficiency for cross-border payments, asset tokenization, and financial operations. The purchase price was not disclosed.
- USDT: A U.S. dollar-pegged stablecoin issued by Tether, used for transactions and value storage on blockchain networks.
- Tokenization: The process of converting real-world assets into digital tokens on a blockchain for easier trading and management.
- Blockchain Settlement: The completion of transactions directly on blockchain networks, enabling faster, secure, and transparent payment processing.