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Tether invests $20M in Argentine neobank Ualá funding round

The $20 million stake comes as Ualá’s $197 million equity round was led by Allianz X and disclosed Tether as a participant.

Reported · Written up by our desk · Market Structure

Cointelegraph reports that Tether has reportedly invested $20 million into Argentine neobank Ualá, according to Bloomberg.

The deal is part of Ualá’s $197 million equity funding round announced in March, led by Allianz X, in which Ualá disclosed Tether as a participant at the time but did not reveal the investment size.

Cointelegraph said it contacted Tether for confirmation but had not received a response by publication.

The report also notes that Tether has previously backed Latin America crypto initiatives, including a $20 million investment in Brazilian exchange Mercado Bitcoin announced earlier in July, and it led a $14 million Series A round for Argentine platform Belo in April.

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