Tether Acquires Parfin to Strengthen Blockchain Presence in Latin America

TLDR

• Tether has acquired Parfin, a digital asset custody platform based in London and Rio de Janeiro.
• The acquisition allows Tether to expand its presence in Latin America, a rapidly growing crypto hub.
• Parfin specializes in custody, tokenization, and settlement, enhancing Tether’s blockchain capabilities.
• Tether aims to increase USDT adoption among institutional clients in the Latin American market.
• Parfin’s integration with financial institutions positions it as a strategic partner for Tether in the region.

Tether, the world’s largest stablecoin issuer, has acquired Parfin, a digital asset custody platform based in London and Rio de Janeiro. The acquisition, announced on November 20, highlights Tether’s strategy to grow its presence in Latin America. This move positions the company to more effectively bridge traditional finance and blockchain technology.

Tether’s Investment in Parfin and Latin America

Tether has been increasing its focus on Latin America, one of the world’s fastest-growing crypto hubs. The company believes the region’s financial landscape offers excellent opportunities for blockchain adoption. Paolo Ardoino, CEO of Tether, stated, “Parfin has shown a strong commitment to bridging this gap” between traditional finance and blockchain technology.

Parfin’s expertise in custody, tokenization, and settlement will allow Tether to enhance its offerings in the region. The company aims to expand USDT adoption among institutional clients. Ardoino emphasized that Tether values global access to financial freedom and sees Latin America as a vital part of that vision.

Parfin’s integration with Latin America’s financial institutions positions it as a strategic partner for Tether. The company provides custody, tokenization, and trading solutions, making it a key player in the region’s crypto market. Its platform serves institutional clients, including banks and asset managers, which strengthens Tether’s position in the market.

Marcos Viriato, CEO of Parfin, commented, “Our vision is to accelerate the integration of tokenization applications and USDT into institutional-grade blockchain solutions.” This partnership with Tether further solidifies Parfin’s role in helping institutions navigate the crypto space.

Stablecoins Power Cross-Border Transactions in LATAM

Latin America has become a key region for crypto adoption, with transaction volumes reaching nearly $1.5 trillion by October 2025. Stablecoins, like USDT, are increasingly used for remittances and cross-border transactions in the region. These digital assets offer a cheaper, faster way to transfer money, particularly important for users in countries with high inflation rates.

Parfin, which raised $10 million in Series A funding in 2024, is well-positioned to capitalize on the region’s growing interest in blockchain. Mastercard incubated the startup and offers solutions that align with both traditional finance and decentralized finance (DeFi) requirements. With clients such as Banco BV and Núclea, Parfin’s influence is expanding in Latin America.

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