Stellar anchor, Settle Network has issued two new stablecoins, Argentinian Peso token (ARST) and Brazilian Real token (BRLT). Settle’s partnership with Stellar Development Foundation will allow citizens in both Argentina and Brazil to buy ARST and BRLT stablecoins using their fiat currencies.
This will definitely help toward increased adoption of digital assets in Latin America powered by Stellar network. This also allows anyone to send these tokens to anywhere around the world in seconds using incredibly fast Stellar blockchain.
Settle Network will be maintaining equal amount of funds in their KYC-verified bank accounts so that 1:1 ratio is always maintained for ARST and BRLT. Vibrant wallet which is also funded by SDF, already supports both of these stablecoins and so does the Lobstr wallet which is most popular Stellar wallet.
Infact, both Vibrant and Lobstr let you buy and sell these stablecoins right from the wallet. We have already shown you how you can convert ARST to USDX inside Vibrant wallet. Also, at anytime, you can request a withdraw to your Argentinian or Brazilian bank account.
ARST and BRLT are part of Stellar’s new stablecoin initiative – StableX. It is a new digital currency platform for stablecoins. Right now, it offers three stablecoins – ARST, BRLT and USDX and very soon, it will add support for many more.