Num Finance and TruBit have announced a partnership in which Num’s stablecoin nARS, pegged to the Argentine Peso, will be traded on the exchange.

Num states that the listing on TruBit is part of a broader strategy to offer a more comprehensive range of tools for its users. The company called TruBit a “true ally” in its endeavors.

Agustín Liserra, CEO of Num Finance, said they are very excited about the partnership, describing it as a step in “addressing the biggest monetary problems facing users across underserved regions.”

nARS was launched last year (2022) and reportedly had a total circulation of 2.5 million. Latin American individuals mainly use the stablecoin but provide access to loans and other financial options in the underserved market.

TruBit is also expected to offer users a new option to earn staking yields on nARS.

Country Manager of TruBit Argentina Matias Reyes said there are strong synergies between the two firms, and TruBit remains committed to the security and providing a reliable trading environment.

TruBit says it is committed to providing comprehensive crypto services across Latin America.

According to Coinfirm data, between July 2021 and June 2022, LATAM received USD $562 billion in cryptocurrencies, representing a 40% year-on-year growth. These figures position Latin America as the seventh-largest cryptocurrency market globally.

Crypto trends for Latin America 2023
Crypto trends for Latin America 2023. (Source: Pulso Capital)

For its part, Pulso Capital points out that Argentina is the country where most people talk about cryptocurrencies and wallets (virtual wallets); 33% of its population shares topics regarding this type of currency on social networks, followed by Brazil with 26% and Mexico with 24%.

We recently reported the news that Ripio would be the first cryptocurrency linked to the US dollar, becoming the first stablecoin of its kind in the region. Well, nARS is a stablecoin, meaning a cryptocurrency that attempts to maintain its value stable with a reference asset, in this case, the Argentine Peso. With this new alliance, cryptocurrency will gain weight in the market and become a digital circulant.