Last May 23 Num Finance has announced the launch of 3 stablecoins pegged to the Brazilian Real, another to the Mexican Peso and another to the Colombian Peso.. The news was announced on his official Twitter account as well as on his official page, just after having closed the fundraising of 1.5 million dollars in a pre-seed financing round led by Reserve.
Hence, we are preparing to implement our stablecoin solutions in:
π¨π΄ Colombia
π²π½ Mexico
π§π· BrazilEffectively encompassing five of the most dynamic and vibrant economic landscapes within Latin America.
β Num Finance (@Num_Finance) May 23, 2023
With its suite of financial products and stablecoins, collectively referred to as the βNumber Networkβ, Num Finance offers companies a way to expand their operations in emerging markets through yields, loans and digital assets backed by ramps and local tokens.
Using the funds obtained, this company proposes to expand its range of services in Mexico, Colombia and Brazil, in addition to exploring other emerging markets in Latin America, North Africa and Asia. In addition, they would plan to focus on the development of Real World Assets, beginning with the tokenization of financial instruments of money markets.
AgustΓn Liserra, CEO of Num Finance, expressed: βWe are excited about the opportunities this funding round brings us. Given the challenging environment for raising capital, the unwavering confidence investors have shown in our long-term project is evident. The realization of our vision is based on the potential to tokenize real world assets and make them universally accessible through public networks. This allows us to offer world-class financial technology in regions where traditional finance is still entrenched in the past.β.
Num Finance was founded in 2021 by connoisseurs of the DeFi field. In their first year they launched their inaugural tokens: nARS, a digital asset pegged to the Argentine peso, and nPEN, a stablecoin pegged to the Peruvian solwhich reached a total circulation valued at 2.5 million dollars.
With the financial backing of this round, Num Finance will launch new stablecoins for the Brazilian Real (nBRL), the Colombian Peso (nCOP), the Mexican Peso (nMXN), and the Bahrain Dinar (nBHD).
Nevin Freeman, co-founder of Reserve, a platform that develops financial tools that seeks to address problems, such as inflation, through its $RSV stablecoin, commented: βWe are excited to support a project that meets real needs in a region heavily affected by currency problems. Num Finance has immense potential and aligns with our vision to provide individuals and businesses with better financial tools for savings, investments and payments within emerging markets.β.
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