As part of a new initiative, three new stablecoins will be introduced for the Latin American market.
These will maintain price parity with the Mexican peso (MXN), the Colombian peso (COP), and the Brazilian real (BRL).
This was announced on May 24 by the decentralized financial protocol (DeFi) Num Finance, which is preparing the launch of these three stablecoins.
It said this is possible thanks to a US$1.5 million investment that the company has just received.
Num Finance has already launched a stablecoin with parity to the Argentine peso (ARS) called “nARS” and to the Peruvian sol (SOL) called “nPEN”.
With Mexico, Colombia, and Brazil, the company said it covers “five of the most dynamic and vibrant economies in Latin America.”
The organization stated that “populations living in distorted and inefficient financial ecosystems need better connectivity to financial products and services.”
“This fact has led them to expand into Mexico, Colombia, and Brazil.”
“All of this is happening within a vision of “tokenizing real-world assets,” issuing stablecoins, loans, and other products related to these cryptocurrencies.
Stablecoins are cryptocurrencies that seek to maintain price parity with fiat currencies, such as the currencies of Mexico, Colombia, and Brazil, in this case.
The most widely used is Tether (USDT), pegged to the US dollar.
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