WebsCrypto
  • News
  • Prices
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Business
  • Markets
  • Blockchain
  • DeFi
  • Policy
  • Opinions
  • Guides
  • PR
Facebook Twitter LinkedIn Telegram
WebsCryptoWebsCrypto
  • News
  • Prices
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Business
  • Markets
  • Blockchain
  • DeFi
  • Policy
  • Opinions
  • Guides
  • PR
WebsCrypto
News

Argentina’s Entre Rios Province Announces Plans to Launch US Dollar-Pegged Stablecoin

By Simon LawsonDecember 17, 20222 Mins Read
Argentina's Entre Rios Province Announces Plans to Launch US Dollar-Pegged Stablecoin
Share
Facebook Twitter Telegram LinkedIn Reddit Email

Argentina’s Entre Rios province has announced plans to issue a stablecoin pegged to the US dollar. The stablecoin, called the “Peso Digital,” will be available for purchase and use within the province and is expected to be launched within the next few months.

According to the governor of Entre Rios, Gustavo Bordet, the Peso Digital will provide a “safe and stable” alternative to the Argentine peso, which has been plagued by high inflation and currency volatility in recent years.

“We believe that the Peso Digital will be a game-changer for our province and will help attract investment and boost economic growth,” Bordet said in a statement.

How the Peso Digital Works

The Peso Digital will be available for purchase on a dedicated website and will be backed by US dollars held in a secure escrow account. Each stablecoin will be worth one US dollar, and users will be able to use them to make purchases and pay bills within the province.

The Peso Digital will also be available for purchase in physical form, with a limited number of “Peso Digital debit cards” being issued to users. These debit cards will allow users to make purchases and withdraw cash from ATMs within the province.

Why Entre Rios is Issuing a Stablecoin

Entre Rios is not the first jurisdiction to issue a stablecoin, but it is the first to do so in South America. The province’s decision to launch a stablecoin is driven by the economic challenges facing Argentina, which has been grappling with high inflation and currency volatility in recent years.

The Peso Digital is intended to provide a more stable alternative to the Argentine peso, which has lost value due to the country’s economic troubles. By pegging the Peso Digital to the US dollar, the province hopes to attract investment and boost economic growth.

Argentina’s Entre Rios province has announced plans to launch a stablecoin pegged to the US dollar. The Peso Digital will be available for purchase and use within the province and is expected to be launched in the coming months. The stablecoin is intended to provide a more stable alternative to the Argentine peso and boost economic growth in the province.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
Altcoin Crypto Cryptocurrency

Related News

Hackers Leaked LSD Protocol Unsheth Contract Deployment Private Key, Suspended Withdrawals and Contacted Hackers

Bitfinex Alpha Report Highlights Increased Volatility in Crypto Options Market Amid U.S. Policymakers Confused About Economic Conditions

Optimism Prepares for Biggest Upgrade in Bedrock History

EU Officially Enacts MiCA Regulation as Law

World Economic Forum Issues Recommendations to Governments and Industry on Cryptocurrency Regulation

Ethereum Should Return to Layer 1 Scaling via Rollup or Sharding, Says Cyber Capital Founder

The Latest
News June 1, 2023Updated:June 1, 2023
Hackers Leaked LSD Protocol Unsheth Contract Deployment Private Key, Suspended Withdrawals and Contacted Hackers
Markets June 1, 2023
Bitfinex Alpha Report Highlights Increased Volatility in Crypto Options Market Amid U.S. Policymakers Confused About Economic Conditions
Business June 1, 2023
Optimism Prepares for Biggest Upgrade in Bedrock History
News June 1, 2023Updated:June 1, 2023
EU Officially Enacts MiCA Regulation as Law
News May 30, 2023Updated:May 30, 2023
World Economic Forum Issues Recommendations to Governments and Industry on Cryptocurrency Regulation

WebsCrypto contains crypto news about cryptocurrencies, bitcoin, ethereum, altcoins and more.

Facebook Twitter LinkedIn Telegram RSS
Categories
  • News
  • Markets
  • Business
  • Markets
  • Opinions
  • Guides
  • Press Release
  • Sponsored
Tags
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Blockchain
  • DeFi
  • Regulation
  • Policy
About
  • About Us
  • Contact Us
  • Advertise
  • Crypto Prices
  • Privacy Policy
  • Terms of Service
© 2023 WebsCrypto.

Type above and press Enter to search. Press Esc to cancel.