Stablecoin Pegged to Peru’s Currency Launches on Stellar

The coin has been created by Latin American digital token issuer Anclap and is 100% backed by local currency.

AccessTimeIconSep 28, 2021 at 12:21 p.m. UTC
Updated May 11, 2023 at 4:09 p.m. UTC

The first stablecoin pegged to Peru’s national currency, the sol, has launched on the Stellar blockchain.

  • Latin American digital token issuer Anclap launched the stablecoin, which is 100% backed by local currency, according to an announcement Saturday.
  • Digital sol 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 in the hopes of decreasing the costs and the time associated with sending money across borders and different currencies.
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    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.