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.