Latin American digital wallet platform Belo completes $14 million Series A funding round, led by Tether

BlockBeats News, April 29th, Tether Leads $14 million Series A Funding Round in Latin American Digital Wallet Platform Belo, with participation from Titan Fund, The Venture City, Mindset Ventures, and G2.

Belo stated that it will use the new funds to expand into the markets of Mexico, Chile, Colombia, Peru, Bolivia, and Paraguay, and continue to strengthen its business presence in Brazil, focusing on serving freelancers, remote workers, and cross-border fund flow users.

Belo, founded in 2021 and headquartered in Buenos Aires, Argentina, currently has over 3 million users in Latin America. Its product is a cryptocurrency-based digital wallet that supports users to hold, transfer local currency, and "digital dollars" (stablecoins).

Reports indicate that stablecoins have rapidly gained popularity in emerging markets such as Latin America in recent years, mainly used for inflation hedging, cross-border remittances, and bypassing high-cost forex systems. Belo integrates payment, currency exchange, and cross-border transfers into a single application process and leverages cryptocurrency infrastructure for settlement in the background to reduce cross-border transfer costs and delays.