{"id":627010,"date":"2023-04-08T16:49:06","date_gmt":"2023-04-08T21:49:06","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/04\/08\/latam-insights-alliance-against-inflation-btg-pactual-launches-stablecoin-and-argentina-debuts-new-dollar\/"},"modified":"2023-04-08T16:49:06","modified_gmt":"2023-04-08T21:49:06","slug":"latam-insights-alliance-against-inflation-btg-pactual-launches-stablecoin-and-argentina-debuts-new-dollar","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/04\/08\/latam-insights-alliance-against-inflation-btg-pactual-launches-stablecoin-and-argentina-debuts-new-dollar\/","title":{"rendered":"Latam Insights \u2014 Alliance Against Inflation, BTG Pactual Launches Stablecoin, and Argentina Debuts New Dollar"},"content":{"rendered":"
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Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue: Latin American nations ink an agreement to reduce inflation, Brazil-based BTG Pactual launches its own dollar-pegged stablecoin, and Argentina launches yet another dollar exchange rate.<\/strong><\/p>\n

Latin American Nations Sign Pact to Fight Inflation<\/h2>\n

On April 5, eleven countries in Latin America, including Argentina, Brazil, Chile, Colombia, Cuba, and Venezuela, signed an agreement to fight inflation by adopting a system that will create facilities for exporting and importing basic goods. The priority is to allow citizens to obtain these goods at affordable prices.<\/p>\n

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President of Mexico Andres Lopez Obrador explaining the anti-inflation deal. Source: Gobierno De Mexico Twitter account.<\/figcaption><\/figure>\n

For this, the countries agreed<\/a> to \u201cadvance in the definition of commercial facilities, as well as logistical, financial and other measures, that allow the exchange of products of the basic basket and intermediate goods to occur in better conditions.\u201d<\/p>\n

Andres Lopez Obrador, president of Mexico, who proposed<\/a> this agreement back in March,, stated<\/a>:<\/p>\n

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We can make exchanges economically, commercially, if we agree and remove obstacles, tariffs, sanitary measures, and each country has something to offer. All with the purpose that food and basic products can arrive at a better price.<\/p>\n<\/blockquote>\n

BTG Pactual Launches Dollar-Pegged Stablecoin<\/h2>\n

On April 4, BTG Pactual, a Brazilian investment bank that reported<\/a> over $100 billion in assets under management in Q4 2022, launched the BTG Dol, a dollar-pegged stablecoin. Touted as the first stablecoin asset launched by a bank, it seeks to bridge the traditional finance and digital finance worlds in Brazil, allowing users to mint it by paying only 0.5% for the conversion.<\/p>\n

Andr\u00e9 Portilho, head of Digital Assets at BTG Pactual, stated<\/a> that the development of this new stablecoin will give customers an \u201ceasier, safer, and smarter way to invest in dollars.\u201d The dollar-pegged stablecoin and the funds backing it will be managed by BTG Pactual.<\/p>\n

Argentine Government Debuts New Dollar Exchange Rate<\/h2>\n

The Argentine government will offer<\/a> a new exchange rate to agricultural producers so they can liquidate their products at a higher rate (300 pesos per U.S. dollar) than what was offered before. The goal of the initiative is to accumulate more than nine billion dollars to reinforce the country\u2019s reserves.<\/p>\n

The government needs to accumulate at least $8 billion by December, in order to comply with agreements made with the International Monetary Fund (IMF). The government has a negative balance, having invested $3.4 billion this year in stabilizing the value of the Argentine peso, and facing high inflation and devaluation levels.<\/p>\n

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\nTags in this story
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Andres Manuel Lopez Obrador<\/a>, Argentina<\/a>, Brazil<\/a>, BTG pactual<\/a>, Dollar<\/a>, inflation<\/a>, Latin America<\/a>, Mexico<\/a>, report<\/a>, Stablecoin<\/a>, Venezuela<\/a><\/p>\n<\/div>\n<\/div>\n

What do out think about the developments in Latin America this week? Tell us in the comment section below.<\/strong><\/em><\/p>\n

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\nSergio Goschenko <\/h6>\n

\nSergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.\n<\/p>\n<\/div>\n<\/div>\n

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n

Read More<\/a>
\n Sergio Goschenko<\/p>\n","protected":false},"excerpt":{"rendered":"

Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue: Latin American nations ink an agreement to reduce inflation, Brazil-based BTG Pactual launches its own dollar-pegged stablecoin, and Argentina launches yet another dollar exchange rate. Latin American Nations Sign Pact<\/p>\n","protected":false},"author":1,"featured_media":627011,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23105,41371],"tags":[],"class_list":{"0":"post-627010","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-insights","8":"category-latam"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/627010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=627010"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/627010\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/627011"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=627010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=627010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=627010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}