Tether partnered with Orionx, a cryptocurrency company based in Chile, to advance cryptocurrency adoption in Latin America. According to Chain Analysis, Orionx operates in Chile, Peru, Colombia, and Mexico, countries with a large unbanked population and $415 billion in annual cryptocurrency transaction capital.
Tether's CEO, Paolo Ardoino, said that the closing of Orionx's Series A supported a high-impact company and the advancement towards its broader vision of making stablecoin-powered financial tools accessible to underserved communities throughout the region.
Latin America chooses stablecoin as a hedge against inflation
Stablecoins like USDC and USDT have gained ground in Latin America, where people have increasingly sought ways to maintain and grow their savings. USD yield products offered interest on dollar-denominated assets, but recently, the rule changed, requiring compliance with complex regulations before establishing banking infrastructure.
💲 Tether announces strategic investment in the Orionx exchange to advance the adoption of digital assets in Latin America
— Daniel Joseph (@Heisprimedaniel) June 3, 2025
According to the Chain Analysis report, Argentina ranked 14th among the top 20 countries globally seeking cryptocurrency adoption. The country received approximately $91 billion in cryptocurrency transactions, just ahead of Brazil's $90.3 billion in 2024. Stablecoins accounted for 61.8% of all cryptocurrency activities in Argentina and 59.8% in Brazil, which is above the global average of 44.7%
Countries in Latin America experienced inflation in fiat currencies rapidly after a Chain Analysis study revealed that between July 2023 and June 2024, the region received $415 billion in cryptocurrency transactions. According to the report, the increase in cryptocurrency adoption is attributed to the high inflation experienced in the area.
Argentina and Brazil have experienced high debt problems, leading to an increase in inflation rates. People in these countries are constantly looking for ways to protect their funds from inflation. According to Tether, businesses in the region are rapidly adapting to cryptocurrency-based investments due to the lack of clear regulations and the need for cheaper international money transfer options.
Chain Analysis revealed that Latin America had the highest number of adults without access to traditional banking. It cited paperwork requirements, distance, and high fees as common reasons why people do not open bank accounts. Joel Vainstein, CEO of Orionx, said that Orionx's stablecoin saw the need and aimed to fill the gap.
Orionx supports local Fiat ramps, low-cost money transfers, and settlements in stablecoin. Its remittance-as-a-service model allows businesses to offer fast and affordable cross-border payments without relying on banks. According to Tether's CEO, the company has invested in technologies and teams that provide real-world value by expanding financial inclusion.
Joel Vainstein said that the partnership with Tether was a turning point. He cited a growing demand from businesses for faster and cheaper payment solutions and added that the partnership would help them scale faster with more flexible tools for the region.
Tether demonstrates its commitment to innovation in Latin America
Tether says its goal is to lead the development of open-source multimodal AI models, drive innovation and accessibility, and lead collaborations that integrate AI solutions into market-driven products. Paolo Ardoino, CEO of Tether, stated that artificial intelligence is set to revolutionize nearly every aspect of human life, both in the real and digital worlds.
Ardoino added that the partnership established a new division within Tether that redefines the boundaries of AI and democratizes privacy. He said it was an opportunity for passionate individuals and companies to explore opportunities on Tether's career page.
According to the Chain Analysis report, institutional activity in Brazil decreased in early 2023. The report suggested that activity has since reversed and increased dramatically. For example, institutional-sized transactions valued at over $1 million increased by approximately 29.2% between the last two quarters of 2023 and approximately 48.4% between the first and fourth quarters of 2024.
Andre Portilho, Head of Digital Assets at the investment bank BTG Pactual, said that the key factor driving institutional activity in the region was portfolio diversification, particularly as the market matured. He added that investors were increasingly integrating digital assets into their asset allocation strategies, viewing them as an alternative for potential enhanced returns.
Portilho said that the most notable recovery event of institutional activity in Brazil was attributed to regulatory evolution and the entry of U.S. institutions, such as Ethereum and Bitcoin ETFs, into the cryptocurrency market.
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