Bitcoin

Settle Network launches stablecoins for Brazil and Argentina on the Stellar blockchain

Settle Network has launched one stable coin for the Argentine market and another for the Brazilian market. Is referred to as ARST or BRLT. Both are already available on the Stellar network. This was reported by the Stablex platform.

“”This partnership between Settle Network and Stellar will initially be launched in Argentina and Brazil for the direct exchange of cryptocurrencies”They explained.

“ARST is the stable coin for the Argentine peso and BRLT is the stable coin for the Brazilian real. Both are fully backed by national currencies and have a close 1: 1 relationship with local currencies, including bank-level KYC verification, AML controls and blockchain monitoring, “they added.

Settle Network launches stablecoins for Brazil and Argentina on the Stellar blockchain
Settle Network launches stablecoins for Brazil and Argentina on the Stellar blockchain

On the other hand, they pointed out that Once ARST and / or BRLT have been added to users’ wallets, users can exchange BTC for ARST, ETH for ARST, BTC for BRLT for ARST, or any other stable pair of coins on the exchange.

Pablo Orlando, CEO of Settle Network stated, “Latin America has identified one of the greatest needs and use cases for blockchain and cryptocurrency adoption.”

Then he added, “This is a key moment for users in Latin America. The new Settle Network and Stellar Stable Coins, ARST and BRLT, allow users to virtually send Argentine pesos (ARS) and convert them to Brazilian reals (BRL) Within seconds, a new world of possibilities for international transfers and cross-border payments opens up. ”

“Stellar has teamed up with us to jointly offer tighter integration with LATAM. This partnership enables a huge, scalable and compatible local currency framework in the region. We are very excited to be working with the Stellar ecosystem to achieve a goal So important to users in Argentina and Brazil, “said Jack Saracco, director of business development and partnerships for Settle Network.

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