Belo, a digital wallet focused on Latin America, has secured $14 million in Series A funding led by Tether, a prominent stablecoin issuer. The funding round also saw participation from Titan Fund, The Venture City, Mindset Ventures, and G2. The company plans to utilize these funds to expand its services into Mexico, Chile, Colombia, Peru, Bolivia, and Paraguay, while bolstering its infrastructure across the region. Additionally, Belo aims to strengthen its presence in Brazil by targeting freelancers, remote workers, and individuals who frequently transfer funds across borders.

Founded in Buenos Aires in 2021, Belo's digital wallet allows users to hold and transfer both local currencies and digital dollars, with the platform having grown to over 3 million users across Latin America. According to CEO Manuel Beaudroit, 'We've achieved three years of profitable operations and have a product that people use daily. This funding round is focused on scaling.' Stablecoins have gained popularity in emerging markets as an alternative to traditional banking systems, particularly in regions with high inflation or limited access to dollar-denominated accounts.

In Latin America, stablecoins are often used for storing value, sending remittances, and bypassing costly foreign exchange systems. Belo streamlines payments, foreign exchange, and cross-border transfers into a single flow, aiming to reduce the friction associated with moving money between countries in the region. The company's model leverages crypto infrastructure to facilitate this process. Tether's involvement highlights a broader effort 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 filling gaps left by traditional finance. 'Crypto will start to do what traditional financial services haven't done, which is serving people and their companies,' he stated. Belo is also hiring across product, engineering, and operations as it expands its regional footprint.