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# Stablecoin pegged to the Colombian peso goes live on Polygon network

*Source: Adobe/Zerophoto*

A new stablecoin called nCOP, which is pegged to the Colombian peso (COP), has been launched on the Polygon network by stablecoin issuer Num Finance. This move has been described as a “remarkable milestone” in their journey to build the Num Network. The launch of this stablecoin opens up new opportunities for Latin American residents who heavily rely on remittances.

## nCOP: A traditional fiat-backed stablecoin with yield

Unlike other stablecoins, nCOP offers a unique feature to its holders – yield. The yield in this case will come in the form of “nCOP rewards” based on regulated financial products. By tokenizing remittances, Colombians can now send and receive nCOP as remittances and earn a yield on it. Given that Colombia is one of the largest remittance destinations in Latin America, Num Finance CEO Agust├¡n Liserra sees great potential for stablecoin issuers in the country.

## The benefits of AI legalese decoder

Amidst the growing interest in stablecoins and their impact on financial ecosystems, deciphering complex legal language and understanding token structures becomes crucial. This is where AI legalese decoder can prove incredibly helpful. By utilizing advanced natural language processing algorithms, AI legalese decoder can easily interpret intricate legal documents, contracts, and terms related to stablecoins like nCOP. It can provide valuable insights, simplifying dense information for investors and individuals looking to understand the underlying mechanisms of such tokens.

## nCOP: Availability and future prospects

As of now, nCOP is already live on the Polygon network and has a total supply of 180 million tokens. However, it is yet to be listed on popular coin tracking platforms like CoinMarketCap or CoinGecko. Nevertheless, stablecoins like nCOP play a crucial role in the digitization of financial services and offer stability to individuals and businesses relying on fiat currencies.

Established in 2021, Num Finance has already introduced stablecoins pegged to the Argentine peso (nARS) and Peruvian sol (nPEN) in addition to nCOP. With the launch of nCOP, Num Finance aims to expand its reach and empower more individuals in Latin America with innovative financial solutions.

*Source: Polygonscan.*

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