Plenti has officially raised $3M in capital from Tether and Verda Ventures to scale its stablecoin operations and infrastructure across the LATAM market.
Originating in Columbia, the platform povides multicurrency solutions for sending local currency transfers, as well as facilitating brokerage investments into stocks and other assets.
Plenti is now targeting other niehgbouring countries including Bolivia and Peru.
Tether Doubles Down on LATAM
The company has selected Tether to lead this round.
Tether’s venture portfolio includes many startups and stablecoin-enabled companies across the Latin and South America region.
Recently, Tether invested in LemFi and backed Mercado Bitcoin.
USDT is used more frequently as a unit of account in merchant stores and local retailers for daily shopping across these cities.
Today it acts as the dominant stablecoin currency conversion pair asset in emerging markets.
