Num Finance launches nCOP, their latest stablecoin offering with remittance tokenization and 8% returns. It is now available through Polygon Labs, their key blockchain partner. This is a remarkable milestone in the journey to build the #NumNetwork, bringing cutting-edge tools to Latin American users.
The assets backing nCOP exceed its issued value, ensuring robust stability and security, reducing the impact of volatility and enabling efficient cross-border transfers and settlements.
nCOP facilitates smooth transactions and fast remittances, protects against volatility through returns and easy USD trading, and promotes financial inclusion in the region by offering a high-quality financial solution.
As an over-collateralized stablecoin, nCOP claims to provide users with solid stability and enhanced security, enabling borderless transactions and promoting financial inclusion in the region by providing an easy way to send and receive remittances. In addition, nCOP allows businesses to settle in real time, making cash management more efficient.
This is possible because there is no currency risk, as nCOP can be exchanged into Colombian pesos on a 1:1 basis. In addition, this launch includes the Num Yield feature, a unique aspect of nCOP that allows users to earn nCOP rewards based on regulated financial products.
Num Finance, a leader in local stablecoin issuance, continues to expand, offering advanced financial solutions and leading the tokenization of digital assets in emerging markets.
The incorporation of nCOP is a key step in the expansion of the Num Network, an evolving ecosystem created to empower individuals to manage, transact, earn and save money in emerging markets. With a specific focus on Latin America, the Num network provides users with innovative digital financial tools designed to meet their everyday needs.
Furthermore, nCOP creates new opportunities for continuous remittances and payments between individuals and businesses. This is possible because nCOP can be exchanged for Colombian pesos at a 1:1 share, facilitating efficient cross-border transactions.
Growing Potential for Stablecoins to Receive Remittances in Colombia
Agustin Liserra, CEO of Num Finance, has highlighted the potential of tokenizing remittances in Colombia and offering nCOP returns based on regulated financial products.
Colombia is a major recipient of remittances in Latin America, and Num Finance aims to provide a novel way for individuals to send and receive nCOPs as remittances, while earning returns on their holdings.
In particular, stablecoins are having a growing impact not only in Colombia, but throughout Latin America.
Founded in 2021 by experts in the decentralized finance industry (DeFi), Num Finance initially gained recognition by introducing stablecoins such as nARS (pegged to the Argentine peso) and nPEN (pegged to the Peruvian sol).
With recent funding from a pre-stage growth round, Num Finance is expanding. It is expanding rapidly, launching stablecoins in new geographies and exploring the tokenization market for digital assets. In doing so, it is including the substantial money market sector. In this case, the Colombian peso was the currency of choice for the stablecoin benchmark.
The launch of nCOP marks another step forward in Num Finance’s goal to introduce modern financial technology. This is useful especially in areas where traditional financial practices are outdated. The company thanks investors for their continued support of its long-term vision.
By Audy Castañeda
