U.S. markets close in 4 hours 50 minutes
  • S&P 500

    4,387.05
    -0.11 (-0.00%)
     
  • Dow 30

    34,900.10
    +61.94 (+0.18%)
     
  • Nasdaq

    14,620.67
    -60.40 (-0.41%)
     
  • Russell 2000

    2,202.37
    -13.13 (-0.59%)
     
  • Crude Oil

    69.90
    -1.36 (-1.91%)
     
  • Gold

    1,814.40
    -7.80 (-0.43%)
     
  • Silver

    25.55
    -0.03 (-0.12%)
     
  • EUR/USD

    1.1862
    -0.0014 (-0.12%)
     
  • 10-Yr Bond

    1.1660
    -0.0080 (-0.68%)
     
  • GBP/USD

    1.3892
    +0.0008 (+0.06%)
     
  • USD/JPY

    109.0200
    -0.2890 (-0.26%)
     
  • BTC-USD

    38,191.86
    -1,518.62 (-3.82%)
     
  • CMC Crypto 200

    933.21
    -10.23 (-1.08%)
     
  • FTSE 100

    7,103.03
    +21.31 (+0.30%)
     
  • Nikkei 225

    27,641.83
    -139.19 (-0.50%)
     

Argentina’s Misiones Province Plans to Issue Its Own Stablecoin

·1 min read

The Argentinian province of Misiones will issue its own native stablecoin. 

According to an official statement published by Misiones’ secretary of finance on July 15, the province has enacted a law authorizing the stablecoin, which will allow it to create a new financing and transaction tool.

The project was approved by Misiones’ House of Representatives and is being studied by an interdisciplinary team that includes Adolfo Safrán, the province’s minister of finance. 

Related: Tether General Counsel Tells CNBC Audit Is ‘Months’ Away

“Misiones is the first province in the country to sanction a conceptual framework to develop these digital tools that are transforming finance and public and private management at a global level,” the statement said.

It is unclear whether Misiones will create its own blockchain or tap an existing network to support the stablecoin.

The law seeks to implement blockchain technology “with the aim of digitizing information in a reliable, transparent, secure, traceable and, moreover, environmentally friendly way,” the statement said. 

Blockchain technology will be used in a green bond that will keep track of the carbon footprint absorbed daily by Misiones’ forests.

Related Stories