Tether Fronts Belo’s $14 Million Funding Round to Broaden Stablecoin Payment Reach Throughout Latin America
Belo, boasting a user base exceeding 3 million across Latin America, provides a digital wallet enabling individuals to store and move local currencies in tandem with digital dollars.
Key Points:
— Belo, an Argentina-headquartered company leveraging cryptocurrency networks for transactions, secured $14 million in a Series A funding round spearheaded by stablecoin creator Tether.
— By integrating payments, currency exchange, and international transfers within a single application and utilizing stablecoin technology, Belo intends to minimize expenses and obstacles within Latin America’s disjointed financial landscape, catering to populations neglected by conventional banking.
— The enterprise intends to extend its services throughout Mexico, Chile, Colombia, Peru, Bolivia, and Paraguay, while recruiting talent in product development, engineering, and operational roles.
Belo, a digital wallet tailored for Latin America that utilizes cryptocurrency networks for transactions, has secured $14 million in a Series A funding round led by stablecoin creator Tether.
The investment round also featured participation from Titan Fund, The Venture City, Mindset Ventures, and G2.
Funds will be directed toward entering new markets including Mexico, Chile, Colombia, Peru, Bolivia, and Paraguay, alongside scaling regional infrastructure. Additionally, the firm is strengthening its position in Brazil, focusing on freelancers, remote professionals, and other individuals conducting cross-border financial activities.
Established in Buenos Aires in 2021, Belo provides a digital wallet allowing users to store and transfer local currencies alongside digital dollars. The platform has expanded to serve over 3 million users throughout Latin America.
«We entered this funding phase after three years of profitable operations and a product deeply integrated into daily routines,» noted CEO Manuel Beaudroit. «This phase centers on scaling operations.»
Stablecoins — cryptocurrencies pegged to fiat currencies — have seen increased adoption in emerging economies as alternatives to conventional banking, particularly in areas experiencing high inflation, currency instability, or restricted access to dollar accounts. In Latin America, these assets are frequently utilized for value preservation, remittance transfers, and circumventing expensive foreign exchange networks.
Belo merges payments, currency exchange, and international transfers into a unified process, striving to eliminate friction in a region where cross-border money movement remains costly and time-consuming. Users typically depend on multiple platforms for transfers, incurring additional fees and delays.
The company’s framework operates cryptocurrency infrastructure invisibly to simplify this workflow. Tether’s support signals a larger initiative to grow stablecoin-driven payment networks in markets where demand for dollar-pegged assets remains robust.
Beaudroit described Belo’s strategy as part of a broader transformation, noting that cryptocurrency tools are beginning to address voids left by conventional finance, during a discussion with Decryptnews.
«Cryptocurrency will begin fulfilling the role that traditional financial services have not, which is serving individuals and their businesses,» he stated.
Belo announced it is recruiting across product development, engineering, and operational departments as it broadens its regional presence.