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Managing over $2 billion in assets, BIND and other Argentine banking groups develop a peso-pegged stablecoin
Odaily News: BIND Group, a bank holding group managing over $2 billion in assets, is developing a stablecoin pegged to the Argentine peso through its virtual asset service provider BEN, offering programmable money services to institutions. BIND Group has also announced a partnership with Circle to provide institutional-grade payment and treasury management services for BEN clients that meet local regulatory requirements. Petersen Group is also advancing a second peso-pegged stablecoin initiative through a subsidiary, with support from crypto-as-a-service company Lirium. The product, named DIPE, has already published a whitepaper; Lirium provides related solutions for Banco Galicia and Brubank. The above projects are being pursued by companies supported by banking groups, rather than being directly offered by the banking groups themselves. The Central Bank of Argentina has prohibited private banks from offering crypto-related services to clients since May 2022. These products are primarily aimed at institutional use cases, including treasury management, payments triggered by on-chain events, and secured credit management. In March, Argentina's securities regulator classified the peso-pegged stablecoin ARGT as a security, noting that it had not been issued in compliance with regulations.
Circle Partners with BIND Group to Provide USDC Access to Argentine Institutions
: Circle has entered into a strategic alliance with Argentine financial services group BIND Group to provide USDC liquidity access to Argentine enterprises through BEN, a licensed virtual asset service provider under BIND. BIND Group has total assets exceeding $2 billion, and its core banking entity, BIND Banco Industrial, provides services to institutions and enterprises. BEN will operate in compliance with Argentine regulatory requirements, supporting use cases such as payments, treasury management, and digital asset transfers. BIND Vice President Andrés Meta stated that expanding institutional access to USDC is an important step for the Argentine digital asset ecosystem. Circle CEO Jeremy Allaire noted that Argentina has become a more attractive destination for foreign investment. Argentina is one of the few markets in Latin America where USDC adoption levels are close to those of USDT. Tether-backed Oobit disclosed that transaction volumes completed by Argentine users using USDC account for 46% of the country’s total stablecoin transaction volume.
Managing over $2 billion in assets, BIND and other Argentine banking groups develop a peso-pegged stablecoin
Odaily News: BIND Group, a bank holding group managing over $2 billion in assets, is developing a stablecoin pegged to the Argentine peso through its virtual asset service provider BEN, offering programmable money services to institutions. BIND Group has also announced a partnership with Circle to provide institutional-grade payment and treasury management services for BEN clients that meet local regulatory requirements. Petersen Group is also advancing a second peso-pegged stablecoin initiative through a subsidiary, with support from crypto-as-a-service company Lirium. The product, named DIPE, has already published a whitepaper; Lirium provides related solutions for Banco Galicia and Brubank. The above projects are being pursued by companies supported by banking groups, rather than being directly offered by the banking groups themselves. The Central Bank of Argentina has prohibited private banks from offering crypto-related services to clients since May 2022. These products are primarily aimed at institutional use cases, including treasury management, payments triggered by on-chain events, and secured credit management. In March, Argentina's securities regulator classified the peso-pegged stablecoin ARGT as a security, noting that it had not been issued in compliance with regulations.
Circle Partners with BIND Group to Provide USDC Access to Argentine Institutions
: Circle has entered into a strategic alliance with Argentine financial services group BIND Group to provide USDC liquidity access to Argentine enterprises through BEN, a licensed virtual asset service provider under BIND. BIND Group has total assets exceeding $2 billion, and its core banking entity, BIND Banco Industrial, provides services to institutions and enterprises. BEN will operate in compliance with Argentine regulatory requirements, supporting use cases such as payments, treasury management, and digital asset transfers. BIND Vice President Andrés Meta stated that expanding institutional access to USDC is an important step for the Argentine digital asset ecosystem. Circle CEO Jeremy Allaire noted that Argentina has become a more attractive destination for foreign investment. Argentina is one of the few markets in Latin America where USDC adoption levels are close to those of USDT. Tether-backed Oobit disclosed that transaction volumes completed by Argentine users using USDC account for 46% of the country’s total stablecoin transaction volume.
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Managing over $2 billion in assets, BIND and other Argentine banking groups develop a peso-pegged stablecoin
Odaily News: BIND Group, a bank holding group managing over $2 billion in assets, is developing a stablecoin pegged to the Argentine peso through its virtual asset service provider BEN, offering programmable money services to institutions. BIND Group has also announced a partnership with Circle to provide institutional-grade payment and treasury management services for BEN clients that meet local regulatory requirements. Petersen Group is also advancing a second peso-pegged stablecoin initiative through a subsidiary, with support from crypto-as-a-service company Lirium. The product, named DIPE, has already published a whitepaper; Lirium provides related solutions for Banco Galicia and Brubank. The above projects are being pursued by companies supported by banking groups, rather than being directly offered by the banking groups themselves. The Central Bank of Argentina has prohibited private banks from offering crypto-related services to clients since May 2022. These products are primarily aimed at institutional use cases, including treasury management, payments triggered by on-chain events, and secured credit management. In March, Argentina's securities regulator classified the peso-pegged stablecoin ARGT as a security, noting that it had not been issued in compliance with regulations.
Circle Partners with BIND Group to Provide USDC Access to Argentine Institutions
: Circle has entered into a strategic alliance with Argentine financial services group BIND Group to provide USDC liquidity access to Argentine enterprises through BEN, a licensed virtual asset service provider under BIND. BIND Group has total assets exceeding $2 billion, and its core banking entity, BIND Banco Industrial, provides services to institutions and enterprises. BEN will operate in compliance with Argentine regulatory requirements, supporting use cases such as payments, treasury management, and digital asset transfers. BIND Vice President Andrés Meta stated that expanding institutional access to USDC is an important step for the Argentine digital asset ecosystem. Circle CEO Jeremy Allaire noted that Argentina has become a more attractive destination for foreign investment. Argentina is one of the few markets in Latin America where USDC adoption levels are close to those of USDT. Tether-backed Oobit disclosed that transaction volumes completed by Argentine users using USDC account for 46% of the country’s total stablecoin transaction volume.