Tether leads Belo’s $14 million raise to expand stablecoin payments across Latin America
Belo, which has over 3 million users across Latin America, offers a digital wallet that lets users hold and transfer local currencies alongside digital dollars.
What to know:
- Belo, an Argentina-based firm that uses crypto rails for payments, raised $14 million in a Series A round led by stablecoin issuer Tether.
- By combining payments, foreign exchange and cross-border transfers in one app and relying on stablecoin infrastructure, Belo aims to lower costs and friction in Latin America’s fragmented financial systems and serve users underserved by traditional banks.
- The firm plans to expand across the region in Mexico, Chile, Colombia, Peru, Bolivia and Paraguay, while hiring across product, engineering and operations.
The company plans to use the funds to expand into Mexico, Chile, Colombia, Peru, Bolivia and Paraguay, while scaling its infrastructure across the region. It is also deepening its presence in Brazil, targeting freelancers, remote workers and others who move money across borders.
Founded in Buenos Aires in 2021, Belo offers a digital wallet that lets users hold and transfer local currencies alongside digital dollars. The platform has grown to more than 3 million users across Latin America.
“We reached this round with three years of profitable operations and a product that people use in their daily lives,” said CEO Manuel Beaudroit. “This round is about scaling.”
Stablecoins — cryptocurrencies with prices tied to fiat money — have gained traction across emerging markets as an alternative to traditional banking systems, especially in regions with high inflation, currency volatility or limited access to dollar-denominated accounts. In Latin America, they are often used to store value, send remittances and bypass costly foreign exchange systems.
