What You Should Know (Or Pretend You Do):
- In a bold move, Tether has generously invested in Orionx, a Chilean crypto exchange. Their Series A round is now officially closed – quite the soirée, I’m sure.
- This venture supports Tether’s attempt to conquer Latin America, where banking is a rare luxury for many, and crypto activity is worth a staggering $415 billion annually. Quite the potential, eh?
- Both parties are promising to deliver ‘cost-efficient’ financial solutions. Let’s just hope they’re not too ‘efficient’ – we wouldn’t want to break the bank… just yet.
In a move that sounds straight out of a financial thriller, Tether has made a rather grand investment in Orionx, a Chilean cryptocurrency exchange that dabbles in Peru, Colombia, and Mexico. A true international affair, darling!
With this investment, Orionx has sealed the deal on its Series A raise, led by Tether. But wait, there’s more! In 2023, they also secured an undisclosed amount in a round led by Bitfinex, Tether’s glamorous sister company. The family business, if you will.
What’s the grand plan? Well, Tether’s using this cash injection to carve out a presence in Latin America, which, by the way, has the second-highest number of unbanked adults. So, it’s safe to say there’s plenty of room to work their magic. Oh, and a cool $415 billion in crypto activity there until June 2024 – no big deal, really.
“By closing Orionx’s Series A round, we’re not only backing a high-impact company, but we’re also advancing our vision of making stablecoin-powered financial tools accessible to the underserved,” said Paolo Ardoino, Tether’s CEO. How positively charitable of him!
Joel Vainstein, the CEO of Orionx, had this to say about the partnership: “It marks a turning point in our B2B vision,” as if it were some dramatic plot twist. And of course, he promises more “cost-efficient solutions” for payment collection, distribution, and treasury management. Because who doesn’t love a bit of efficiency in their financial transactions?
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2025-06-03 17:27