Argentina’s province to challenge US dollar-pegged stablecoin By Cointelegraph

The province of San Luis in Argentina authorised laws permitting the issuance of its personal stablecoin pegged to america greenback. The token, dubbed the “Activo Digital San Luis de Ahorro,” can be out there to all residents of the province over the age of 18 and 100% collateralized in liquid monetary property of the province.

The invoice authorizes the province to challenge the stablecoin as much as 2% of its annual finances. It additionally stipulates that property may be transferred between events, but it surely doesn’t specify which chain can be used for the transactions. The province of San Luis is residence to over 430,000 individuals.