Num Finance, an Argentina-based stablecoin issuer, has partnered with crypto exchange TruBit to accelerate nARS adoption in Latin America.
According to the announcement, the alliance aims to integrate nARS, Num Finance’s stablecoin, into TruBit Pro Exchange’s trading platform. Being part of Num Finance’s expansion strategy, the partnership will provide users with flexible access to nARS on the exchange.
Num Finance To Boost Its Stablecoin Footprint In Latin America Through TruBit Pro
The partnership marks a milestone in Num Finance’s expansion plan as it intends to provide more utility for NARS users. Also, it is a strategic means of fulfilling Num Finance’s goal of expanding trading opportunities for its stablecoin users.
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In addition, listing nARS on the TruBit exchange expands its market presence, making it available for more users through various offerings as the partnership will allow users to deposit, withdraw, and trade nARS on TruBit.
The crypto exchange also revealed that its platform will allow users to stake nARS to earn staking yields. Users only need to hold nARS in their wallets for a specific period to earn this staking yield.
Similarly, adding the USDT/nARS trading pairs will enhance the order-book trading feature. Also, it promotes Num’s access to a wider market and allows users to convert funds faster and more efficiently. Combining these utilities fosters a system that encourages users to maximize the use and benefits of nARS stablecoin.
According to the official press release, Num Finance executives expressed excitement about the TruBit partnership and they stressed their commitment to expanding Num Finance’s network globally.
Num Finance And Trubit To Provide Superb Financial Solutions To The Underserved In Latin America
Num Finance provides a network of financial solutions to solve monetary challenges in underserved regions. Launched in 2022, nARS is an Argentina peso-pegged stablecoin created on the Polygon network to link traditional finance with crypto. The stablecoin services mainly focus on helping Latin American (LATAM) users access quality financial products like yields and loans.
Regarding the latest partnership, TruBit officials noted that the exchange’s vision aligns with Num’s as both companies focus on LATAM.
Additionally, they highlighted the potential growth that may come from listing the USDT/nARS pairs. According to the officials, the yield-earning option available for users via the USDT/nARS pair will protect users against inflation.
The Trubit crypto exchange has subsidiaries in several Latin American countries, including Colombia, Mexico, Brazil, and Argentina, where it aims to provide LATAM users with convenient, flexible, and comprehensive crypto trading services.
Meanwhile, the LATAM region is a bubbling hub for cryptocurrency. Being the world’s seventh-largest crypto market, Latin America has become a hub for several crypto exchanges.
Chainalysis data revealed that Latin America received $562 billion in crypto assets between July 2021 and June 2022. This statistic represents a year-on-year growth of 40%.
Featured image from Pixabay and chart from TradingView.com