In the 16th century, early explorers first named the land of the modern-day Argentine Republic for its abundance of silver, which, at the time, made the South American country a prized possession for the then-expanding Spanish empire. Centuries later, Argentina’s focus has shifted towards a more advanced and less orthodox way to amass wealth: stablecoins.
At the moment, Argentina is in the midst of yet another currency devaluation cycle, with the peso dropping sharply against the dollar amid soaring inflation, which is nearing 140%. Amid recent economic instability, stablecoin transactions are becoming increasingly popular among Argentinians looking to trade currencies and assets without worrying about the peso’s fluctuating value.
