Num Finance launches Colombian peso stablecoin on Polygon
Num Finance received $1.5 million in a pre-seed funding round in May and is now issuing stablecoins in the local currencies of Argentina, Peru and Colombia.
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Num Finance received $1.5 million in a pre-seed funding round in May and is now issuing stablecoins in the local currencies of Argentina, Peru and Colombia.
This development follows the company’s previous disclosure of a security breach resulting in fund losses in May 2023.
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The Tether (USDT) stablecoin will no longer be issued on the Bitcoin Omni Layer, while redemptions will still be open for at least a year.
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Rep. Maxine Waters said she was “deeply concerned” about the PYUSD without a proper regulatory framework in place, while Rep. Patrick McHenry said it "hold[s] promise".