Num Finance Unveils nCOP Stablecoin Pegged to Colombian Peso for Remittance Market
Summary:
Argentina-based Num Finance has launched nCOP, a stablecoin pegged to the Colombian peso, targeting the remittance market. With Colombia receiving over $6.5 billion in remittances annually, Num aims to tokenize and offer yields on remittances through regulated financial products. This is Num Finance's third stablecoin, following nARS and nPEN.
Num Finance, an Argentina-based company, has announced the launch of its latest stablecoin, nCOP, which is pegged to the Colombian peso. The stablecoin is built on the Polygon network and aims to cater to the remittance market. According to Num, Colombia receives more than $6.5 billion in remittances annually, making it a key market for stablecoins. The nCOP stablecoin includes a unique feature called the "Num yield feature," which allows users to receive rewards in nCOP. Num Finance CEO, Agustín Liserra, sees a significant opportunity to tokenize remittances and offer a yield by leveraging regulated financial products in Colombia. This stablecoin is the third released by Num Finance, following the nARS pegged to the Argentinian peso and the nPEN pegged to the Peruvian sol.
Published At
8/24/2023 10:22:08 PM
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