{"id":345336,"date":"2021-09-28T13:51:41","date_gmt":"2021-09-28T10:51:41","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/peruvian-stablecoin-launches-on-stellar-blockchain\/"},"modified":"2021-09-28T13:51:41","modified_gmt":"2021-09-28T10:51:41","slug":"peruvian-stablecoin-launches-on-stellar-blockchain","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/peruvian-stablecoin-launches-on-stellar-blockchain\/","title":{"rendered":"# Peruvian stablecoin launches on Stellar blockchain"},"content":{"rendered":"

“# Peruvian stablecoin launches on Stellar blockchain <\/strong>”<\/p>\n

Latin American stablecoin issuer Anclap is expanding its Stellar-based stablecoin network by launching a new stablecoin in Peru,\u00a0<\/em>Cointelegraph en Espa\u00f1ol\u00a0reports.<\/p>\n

Pegged to Peru\u2019s official fiat currency, the Peruvian sol (PEN), the new stablecoin is designed to enable instant transactions across Anclap\u2019s network, including conversions in other fiat currencies as well as \u201cany other digital asset,\u201d the firm announced<\/a> Sept. 25.<\/p>\n

Called the \u201cdigital sol,\u201d the stablecoin is said to be 100% backed by local fiat currency and is available on the Stellar network to be integrated into any platform.<\/p>\n

According to the announcement, the digital sol is already available for purchase from several digital wallets as well as exchange against foreign currencies like the Argentine peso, the Brazilian real, the United States dollar and the euro.<\/p>\n

\u201cThe digital sol opens borders of the Peruvian market, allowing local people and companies to send and receive payments, exchange value \u200b\u200bwith anyone else in the world in all types of currencies, in a matter of minutes and at a very low cost,\u201d Anclap co-founder Ivan Mudryj said.<\/p>\n

The digital sol is the latest Stellar-based stablecoin joining the Anclap stablecoin ecosystem after the firm started working on the Argentine peso-pegged stablecoin in January 2020. \u201cArgentina and Peru are currently connected to the Stellar Network using their respective stablecoins,\u201d Anclap noted<\/a> in a blog post on Sept. 24.<\/p>\n

The company expects to launch more stablecoins for the Colombian peso and the Chilean peso in October and November 2021, respectively. Other stablecoins like the digital Mexican peso and the digital Brazilian real are still under development, according to Anclap\u2019s website<\/a>.<\/p>\n

Anclap stablecoin ecosystem. Source: Anclap<\/em><\/figcaption><\/figure>\n

Anclap has been working on its Stellar-based digital payment network since 2017, with a mission to eliminate costly and slow banking transactions.<\/p>\n

Related: <\/em><\/strong>Cardano to enable new DeFi stablecoin with Coti<\/em><\/strong><\/p>\n

\u201cIt is not just a new country with their stablecoin but millions of citizens who are now bridged to new financial opportunities to build a better future for themselves,\u201d Anclap noted<\/a> on the digital sol launch on Twitter<\/a>.<\/p>\n

The digital sol launch comes amid massive growth in the market of private stablecoins, with the total stablecoin value surging from $37 billion in January to nearly $130 billion in late September 2021. The parabolic surge of the stablecoin market has drawn increased attention from global regulators, with many jurisdictions around the world planning to toughen stablecoin regulation.<\/p>\n