Panama based fintech EFY Finance secured an investment from Tether as part of its seed funding round. The amount was not disclosed.
EFY Finance provides infrastructure for cross border payments, digital asset custody, and stablecoin accounts. Its platform allows businesses and individuals to convert traditional currencies into stablecoins, access digital wallets and cards, and settle payments through local bank accounts.
With the funds EFY Finance will use the investment to expand institutional access to USD₮ and USA₮ and strengthen connections between stablecoins, banks, and payment networks.
EFY Finance holds a Digital Asset Service Provider license in El Salvador and serves more than 25,000 active individual and business accounts. Its platform supports more than 12 currencies and payment corridors and offers local settlement in 17 countries.
Source: LatamList
