Latin America-focused digital wallet Belo has secured $14 million in a Series A funding round, led by stablecoin issuer Tether, with participation from notable investors including Titan Fund, The Venture City, Mindset Ventures, and G2. The funds will be utilized to expand Belo's presence into key Latin American markets such as Mexico, Chile, Colombia, Peru, Bolivia, and Paraguay, while bolstering its infrastructure and deepening its existing presence in Brazil, particularly among freelancers and remote workers.

Founded in 2021 in Buenos Aires, Belo has experienced significant growth, amassing over 3 million users across the region. According to CEO Manuel Beaudroit, the funding round marks a pivotal moment for the company, building upon three years of profitable operations and a product that has become integral to users' daily lives. The round is focused on scaling the business.

Stablecoins have gained considerable traction in emerging markets as an alternative to traditional banking systems, especially in regions plagued by high inflation, currency volatility, or limited access to dollar-denominated accounts. In Latin America, stablecoins are frequently used for storing value, sending remittances, and circumventing costly foreign exchange systems. Belo's innovative approach combines payments, foreign exchange, and cross-border transfers into a single, streamlined flow, aiming to reduce friction in a region where moving money between countries remains slow and expensive. By leveraging crypto infrastructure behind the scenes, Belo simplifies the process, reducing costs and delays associated with traditional methods.

The backing from Tether underscores a broader push to expand stablecoin-based payment systems in markets with strong demand for dollar-linked assets. Beaudroit views Belo's approach as part of a larger shift, where crypto tools are beginning to fill gaps left by traditional finance. In an interview with CoinDesk, he emphasized that crypto will play a crucial role in servicing individuals and companies, particularly in areas where traditional financial services have fallen short.

As Belo expands its regional footprint, the company is also hiring across product, engineering, and operations to support its growth.