Stellar expands reach in Latin America with $3M investment in Settle Network
Summary
The network also offers a suite of products called Settle X that enables compliant interoperability between local currencies and digital assets. The Argentinian based Settle Network was established in 2018 and has a strong foothold in Latin America due to its fiat-to-crypto capabilities. Stable X targets markets in Argentina and Brazil with an Argentine peso stablecoin called ARST and a Brazilian real based BRLT. CEO and Executive Director of the Stellar Development Foundation, Denelle Dixon, said that; Pablo Orlando, CEO of Settle Network, said there is no better partner for the firm than the SDF, which matches their core values: Earlier this month, a Euro stablecoin was launched on Stellar by one of Europe’s oldest banks, Germany’s Bankhaus von der Heydt, (BVDH). The eleventh largest cryptocurrency by market capitalization hit a 2020, and two year high, of $0.223 on November 25 following a protocol upgrade.