Through this partnership, nARS, the stablecoin issued by Num Finance that tracks the value of the Argentine peso, has been incorporated into the TruBit exchange, which provides TruBit's users with a secure and efficient method to trade and obtain the stablecoin.
This integration is a pivotal facet of Num Finance's expansion strategy, aimed at providing its stablecoin users with a broader array of tools. TruBit emerged as an important partner, aligning with Num Finance's aspiration to diversify trading opportunities through its platform, substantial user base, and diverse product offerings.
The launch of the nARS stablecoin by Latin American-based startup Num Finance occurred in 2022. Currently in circulation at a total value of USD 2.5 million according to the official press release, this digital asset provides its predominantly LATAM-centered users with access to superior financial products such as loans and yields, which is particularly significant in a region where conventional financial infrastructure and alternatives remain underdeveloped.
The symbiotic partnership between Num Finance and TruBit extends beyond the conventional token operations, including features such as depositing, withdrawing, and trading nARS. The incorporation of the USDT-nARS pair augments order-book trading functionality, facilitates access to a broader market, and streamlines fund conversion processes.
In addition, TruBit revealed that it will provide users with a novel opportunity to earn staking yields on nARS by simply holding the stablecoins within their wallets. The combined utility of these tools supports an ecosystem that empowers users to optimise the potential benefits of the stablecoin.
In the company press release, officials from Num Finance talked about their partnership with TruBit and expressed their ongoing commitment to expand the reach of the Num Network across the globe. Num Network represents a collection of financial solutions that address pressing monetary challenges faced by users across underserved regions.
Officials from TruBit Argentina emphasised that the two companies share common goals. They also talked about the growth potential provided by their advanced technologies and mentioned the introduction of TruBit's USDT/nARS market order book and the yield-earning option in nARS, which aims to protect users against inflation.
TruBit simplifies entry into the cryptocurrency market for enthusiasts and users by offering the hassle-free wallet TruBit and the comprehensive exchange TruBit Pro. With subsidiaries in Mexico, Brazil, Argentina, and Colombia, the company aims to deliver more convenient, secure, and comprehensive crypto services for all Latin American users.
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