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.

Sep 28, 2021 at 12:21 p.m. UTC
Updated Sep 28, 2021 at 1:32 p.m. UTC

Jamie Crawley is a CoinDesk news reporter based in London.

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.


The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

Trending

1
CoinDesk - Unknown
One River’s Carbon Neutral Bitcoin ETF Rejected by SEC

It's the latest in the agency's string of rejections of spot Bitcoin ETF applications.

It's the latest in the agency's string of rejections of spot Bitcoin ETF applications.

CoinDesk - Unknown
2
CoinDesk - Unknown
A Second Chance: New Terra Blockchain to Launch Saturday, UST Now Live on Polygon

The most valuable crypto stories for Friday, May 27, 2022.

The most valuable crypto stories for Friday, May 27, 2022.

CoinDesk - Unknown
3
CoinDesk - Unknown
Bitcoin Faces Resistance at $33K; Support at $22K-$25K

Volatility could rise, especially if another price breakdown occurs.

Volatility could rise, especially if another price breakdown occurs.

CoinDesk - Unknown
4
CoinDesk - Unknown
UK Crypto Hedge Fund Weathers Market Storm With Arbitrage Strategy

Nickel Digital Asset Management’s arbitrage fund is only down about 0.6% this year, compared to bitcoin’s drop of roughly 40% and the Nasdaq’s dip of 24%.

Nickel Digital Asset Management’s arbitrage fund is only down about 0.6% this year, compared to bitcoin’s drop of roughly 40% and the Nasdaq’s dip of 24%.

CoinDesk - Unknown