BIND and Petersen Groups Develop Peso Stablecoins for Argentina's Institutional Market

According to a recent report from Iproup, BIND Group and Petersen Group are developing Argentine peso-pegged stablecoins through subsidiaries to offer programmable money to institutions. BIND Group, which manages over $2 billion in assets, is advancing its peso stablecoin through BEN, its virtual asset service provider (VASP). Petersen Group is developing a second initiative named DIPE through a subsidiary supported by Lirium. Both initiatives operate through subsidiary entities to circumvent a May 2022 central bank ban on private banks offering crypto-related services. The stablecoins target institutional treasury management, programmable payments, and collateralized credit operations.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments