Svmuu News: Argentine digital bank Ualá has closed a $197 million funding round led by Allianz X, the strategic investment arm of the Allianz Group, with Tether. contributing $20 million. The round was announced in March, valuing Ualá at $3.2 billion.
Ualá has over 11 million users and operates in Argentina, Mexico, and Colombia. The company will use the funds to expand across Latin America, with a focus on the Mexican market.
Pierpaolo Barbieri, Ualá’s founder and CEO, stated that this investment does not include the integration of stablecoins into the platform. Ualá operates as a licensed bank in the relevant markets, and regulatory rules restrict it from undertaking such integrations.
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Ualá Raises $197 Million in Funding, Led by Allianz X with Participation from Tether
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Source：Odaily · Source Link
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