1 year ago
Latin American crypto services supplier Ripio has introduced a stablecoin pegged to the U.S. dollar, successful portion to connection Argentinians a mode of protecting their assets from inflation.
Ripio users successful Argentina, wherever yearly ostentation is moving astatine 115%, are already capable to acquisition the UXD stablecoin, besides called Criptodólar, the institution said Thursday. The stablecoin, which is besides disposable successful Brazil, is hosted connected LaChain, a Latin America-focused layer 1 blockchain launched successful June by Ripio successful collaboration with SenseiNode, Num Finance, Cedalio and Buenbit, among others.
In June, Ripio CEO Sebastian Serrano told CoinDeskTV that contempt the bearish crypto context, the use of stablecoins successful Latin America is increasing and becoming much common.
“In effect to the analyzable economical concern facing Latin America, successful peculiar Argentina, we person created Criptodólar: an innovative solution to assistance individuals combat ostentation and support their assets,” Serrano said successful a statement, adding that the institution plans to incorporated UXD to its Ripio Card.
Ripio was founded successful Argentina and besides present operates successful Brazil, Uruguay, Colombia, Chile, Mexico, the U.S. and Spain, wherever it precocious obtained support to run arsenic a crypto exchange. The institution has 8 cardinal users and transacts $200 cardinal a month.
Edited by Sheldon Reback.
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