News
Crypto is “the ideal ecosystem” for Argentina, says Num Finance director
Share this article
According to Chainalysis’s “Cryptocurrency Geography Report,” a few Latin American countries are among the top 20 in cryptocurrency adoption. The report highlights that the most popular use cases in the region are international remittances and inflation protection, the latter of which is particularly visible in Argentina, where inflation exceeded triple digits last year .
Agustin Liserra, CEO of Argentine crypto company Num Finance, explained that Latin Americans need a tool to conduct permissionless global transactions, while mitigating inflation and currency devaluation.
“These are things that people really suffer from here in Argentina and in Latin America in general. I would also say that here in Argentina, with Milei’s government, inflation is decreasing rapidly. So we are below single digit monthly inflation, and it’s important to be clear about that because it doesn’t seem like a real success, but for Argentina, where last year inflation was higher than 100%, having annualized inflation during the month can reach 50 or 60%, it’s like an improvement,” Liserra said.
Despite the signs of recovery visible through the fall in inflation figures, Liserra points out that consumption and economic activity as a whole are declining in Argentina. Additionally, some products are not available in the country, and crypto becomes the ideal ecosystem for “this kind of need”.
Num Finance offers a tokenized version of traditional financial products, such as commodities, stocks and currency-backed stablecoins. Additionally, they offer income products based on these stablecoins. Liserra explained that the focus on these products is linked to their liquidity and the regulation of their markets, thus ensuring customer protection.
“And then when we talk about mitigating inflation with high yield products, for example, what we’re doing with Num seems to be really useful for people to have a stable coin of national currencies, like the Argentine peso, with a very high return compared to inflation, and a tool that helps to mitigate this phenomenon. […] We believe that in the crypto space we still have a lot of room for growth in the real financial world, so we are focused on that.
Regarding regulation, Liserra stressed that no significant developments have taken place in Argentina since Milei became head of the executive branch. However, a regulatory bill could see the light of day next year.
“There is no regulation yet regarding the obligations to inform the regulator of the operations that clients carry out with certain exchanges or things like this, but only a register to let the regulator know who the actors of the ecosystem. The idea is then to start working with the government and develop regulations on digital asset service providers. I don’t think these regulations will see the light of day this year, or perhaps next.”
Share this article
The information available on or accessible through this website is obtained from independent sources believed to be accurate and reliable, but Decentral Media, Inc. makes no representations or warranties as to its timeliness, completeness or the accuracy of any information available on or accessible through this website. . Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. Information on this website is subject to change without notice. Some or all of the information contained on this website may become out of date, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any information that is out of date, incomplete or inaccurate.
Crypto Briefing can enrich articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable, actionable insights without losing the insight – and oversight – of experienced crypto natives. All AI-augmented content is carefully reviewed, including for factual accuracy, by our writers and editors, and always draws on multiple primary and secondary sources where available to create our stories and content. items.
You should never make an investment decision on any ICO, IEO or other investment based on the information contained in this website, and you should never interpret or rely in any way on the information contained in this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for the analysis or reporting of any ICO, IEO, cryptocurrency, currency, tokenized sales, securities or materials firsts.