The first stablecoin pegged to Peru’s national currency has launched on the Stellar blockchain.
- Latin American digital token issuer Anclap launched the stablecoin, which is 100% backed in local currency, according to an announcement Saturday.
- The sol digital can be purchased from wallets such as Solar and is exchangeable for the Argentine peso, the Brazilian real, the U.S. dollar and other currencies.
- The launch follows that of the digital Argentine peso, issued in early 2020.
- Anclap’s aim is to build a digital payment network on the Stellar blockchain connecting Latin American countries and decreasing the costs and timescales associated with sending money across borders and different currencies.
Read more: Stablecoins Like USDC See Growing Demand in Latin America: Bitso CEO
