There will be new stablecoins linked to the currency of Mexico, Colombia and Brazil

A new initiative will allow the launch of 3 new stablecoins aimed at the Latin American market. These will maintain price parity with the currencies of Mexico, Colombia and Brazil, that is, the Mexican peso (MXN), the Colombian peso (COP) and the real (BRL).

This was announced on May 24 by the decentralized finance (DeFi) protocol Num Finance, reporting that is preparing to launch these 3 stablecoins. And he deepened that this will be possible thanks to an investment of 1.5 million dollars (USD) that they have just raised.

Num Finance has previously launched a stablecoin pegged to the Argentine peso (ARS) called “nARS” and the Peruvian sol (SOL) called “nPEN”. That is why, with Mexico, Colombia and Brazil, he pointed out that they will cover “five of the most dynamic and vibrant economic countries in Latin America”.

The organization commented that “populations living in distorted and inefficient financial ecosystems need greater connectivity to financial products and services.” This reality has led them to expand to Mexico, Colombia and Brazil in principle, he explained. All this is under his vision of “tokenizing real world assets”, issuing stablecoins, as well as loans and other products related to these cryptocurrencies.

It should be noted that, as the CriptoNoticias Cryptopedia explains, stablecoins are cryptocurrencies that try to maintain price parity with fiat currencies, such as in this case those of Mexico, Colombia and Brazil. Currently the most used is Tether (USDT), which is linked to the US dollar.