Tether Takes Minority Stake in Colombian Fintech Plenti With $3M Seed Round Targeting LatAm Expansion
Tether Takes Minority Stake in Colombian Fintech Plenti With $3M Seed Round Targeting LatAm Expansion #
Plenti, a Medellín-based fintech that offers multicurrency accounts and digital-dollar access, has closed a $3 million seed round led by Tether, the issuer of the world’s largest stablecoin, USDT, with additional participation from Verda Ventures. Tether will hold a minority equity stake in the Colombian startup.
Plenti was founded in 2023 by Martín Peláez, Nicolás Zuleta and Sebastián Correa, three former classmates from a Medellín school who identified a shared need for reliable dollar access amid Colombian peso volatility. The platform allows users to hold, convert and move funds across USD, EUR and COP. It primarily targets freelancers and remote workers in Colombia who rely on digital dollar balances to protect their savings from local currency depreciation.
The company had previously raised roughly $200,000 in an early round from Platanus Ventures and personal connections. According to Crypto Briefing, Plenti has since onboarded more than 150,000 users and facilitated over 680 million USDT in transactions since its founding. Combined annual transaction volume across its B2B and B2C divisions has surpassed $3.1 billion.
Plenti recently added fractional trading of Tether Gold (XAUT), allowing users to gain exposure to gold-backed tokens starting at roughly $6.
Proceeds from the seed round will go toward consolidating Plenti’s Colombia operations and funding market entries into Peru and Bolivia, according to the company. Both markets have seen growing demand for dollar-denominated digital assets as residents seek hedges against currency risk. Tether CEO Paolo Ardoino has previously cited Bolivia, alongside Venezuela, Argentina and Turkey, as markets where USDT adoption is accelerating.
At the end of Q2 2026, approximately $184.6 billion in USDT was in circulation, representing more than 60% of the global stablecoin market. For Tether, backing a platform that integrates USDT into its core user experience fits a wider effort to embed the token in everyday financial activity across emerging markets. For Plenti, the investment provides capital, closer access to USDT liquidity, and added credibility as it competes for users across a region where demand for digital dollars has grown.
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