Belo, a digital wallet focused on the Latin American market, has secured $14 million in funding led by Tether, a prominent stablecoin issuer. The Series A round also saw participation from Titan Fund, The Venture City, Mindset Ventures, and G2. The funds will be utilized to expand Belo's presence in countries such as Mexico, Chile, Colombia, Peru, Bolivia, and Paraguay, while bolstering its infrastructure across the region. Additionally, the company aims to deepen its roots in Brazil by targeting freelancers and remote workers who frequently transfer money across borders.

Founded in Buenos Aires in 2021, Belo has experienced rapid growth, with its user base exceeding 3 million across Latin America. According to CEO Manuel Beaudroit, 'We have achieved this round with three years of profitable operations and a product that is integral to people's daily lives. This 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, currency volatility, 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's platform combines payments, foreign exchange, and cross-border transfers into a single, streamlined flow, reducing friction in a region where moving money between countries can be slow and expensive. By leveraging crypto infrastructure behind the scenes, Belo aims to simplify the 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, with crypto tools beginning to fill gaps left by traditional finance. 'Crypto will start to do what traditional financial services haven't done, which is servicing people and their companies,' he stated.

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