Num Finance launches Colombian peso stablecoin on Polygon

📆 8/24/2023 7:45 PM
📰 Cointelegraph

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A financial company based in Argentia has begun issuing stablecoin pegged to the Colombian peso with an eye to capturing the remittance market.

The nCOP incorporates the “Num yield feature,” which allows user rewards to be paid in nCOP. Num Finance CEO Agustín Liserra said:

“In Colombia, there exists a unique opportunity to ‘tokenize’ remittances and offer them a yield in nCOP, based on regulated financial products. Currently, Colombia is one of the main recipients of remittances in Latin America.” This is the third stablecoin the company has produced — after the nARS pegged to the Argentinian peso and the nPEN pegged to the Peruvian sol.

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Colombian Peso Stablecoin Goes Live on Polygon, Aiming for $10B Remittances MarketNum Finance already issues stablecoins pegged to the Argentine and Peruvian local currencies.
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