Num Finance launches Colombian peso stablecoin on Polygon

ChainCatcher news, the stablecoin protocol lending Num Finance headquartered in Argentina announced on Twitter that the company will launch a stablecoin pegged to the Colombian fiat currency peso, named nCOP. It is a collateralized stablecoin based on Polygon, primarily aimed at the remittance market. It is reported that Colombia receives over $6.5 billion in remittances annually. Remittances are one of the main uses of stablecoins.

Previous report, the stablecoin lending protocol Num Finance has completed a $1.5 million seed round financing and is issuing stablecoins related to Argentina and Peru.