PANews reported on November 20 that, according to its official blog, stablecoin issuer Tether announced an investment in Parfin, aiming to accelerate institutional adoption of the USD stablecoin USDT and enhance Latin America's access to efficient blockchain settlement solutions.

Parfin is described as a Latin American digital asset custody, tokenization, trading, and management platform that provides financial institutions with tools to securely explore the potential of digital assets and blockchain technology.