Latin American digital wallet provider Belo has successfully raised $14 million in a Series A funding round, led by prominent stablecoin issuer Tether, with participation from notable investors including Titan Fund, The Venture City, Mindset Ventures, and G2. The funds will be utilized to drive expansion into key Latin American markets such as Mexico, Chile, Colombia, Peru, Bolivia, and Paraguay, while bolstering the company's infrastructure and deepening its presence in Brazil, particularly among freelancers and remote workers who frequently engage in cross-border transactions.

Founded in Buenos Aires in 2021, Belo has established a robust user base of over 3 million individuals across Latin America, offering a unique digital wallet that facilitates the holding and transfer of both local currencies and digital dollars. According to CEO Manuel Beaudroit, the funding round marks a significant milestone, as the company has achieved three years of profitable operations and is now poised to scale its operations. Stablecoins have gained significant traction in emerging markets as a viable 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 commonly 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, seamless flow, leveraging crypto infrastructure to minimize friction in a region where moving money between countries remains slow and expensive. The company's model has the potential to reduce reliance on multiple services for sending or receiving funds, thereby decreasing costs and delays.

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, particularly in servicing individuals and companies.

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