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Binance Ends Support for BUSD Stablecoin: What It Means for Users and the Future of Stablecoins

Binance, one of the largest cryptocurrency exchanges in the world, has made the decision to end support for its Binance USD (BUSD) stablecoin. This move comes after Paxos, the company responsible for minting new BUSD coins, announced that it would be halting its operations. The transition is set to take place on December 15th, and it will have significant implications for users of the BUSD stablecoin. Automatic Conversion to First Digital USD Starting on December 31st, many users' BUSD balances on Binance will be automatically converted into First Digital USD. This conversion will take place seamlessly, and users will not be required to take any action. The transition is designed to ensure a smooth and uninterrupted experience for BUSD users. Implications for BUSD Users While the automatic conversion should minimize any disruption for BUSD users, it is important for them to be aware of the implications of this change. Once their BUSD balances are converted into First Digital US

Num Finance Launches Colombian Peso Stablecoin on Polygon: Revolutionizing the Latin American Stablecoin Market

Num Finance Launches Colombian Peso Stablecoin on Polygon

By EthDan

Num Finance, an Argentina-based financial technology company, has made a significant move in the stablecoin market by launching a stablecoin pegged to the Colombian peso. This development, announced on August 24th, marks a significant step forward for Num Finance as it expands its stablecoin offerings in the Latin American region. With the launch of the Colombian peso stablecoin, Num Finance aims to provide users with a stable and reliable digital asset that can be used for various financial transactions.

Expanding Stablecoin Offerings in Latin America

Num Finance has been making waves in the stablecoin market, having previously launched stablecoins pegged to the Argentine peso and the Peruvian sol. The addition of the Colombian peso stablecoin expands Num Finance's reach and solidifies its position as a key player in the Latin American stablecoin ecosystem.

Stablecoins are digital assets designed to maintain a stable value by pegging them to a specific fiat currency. They offer the benefits of cryptocurrency, such as fast and secure transactions, while mitigating the volatility typically associated with other cryptocurrencies like Bitcoin and Ethereum. This makes stablecoins an attractive option for individuals and businesses looking for a reliable medium of exchange.

The Benefits of the Colombian Peso Stablecoin

By launching a stablecoin pegged to the Colombian peso, Num Finance aims to address the needs of the Colombian market, where the volatility of the national currency can pose challenges for businesses and individuals. The Colombian peso stablecoin will provide users with a secure and stable digital asset that can be easily transacted and used for various purposes, including remittances, online purchases, and peer-to-peer transactions.

The Colombian peso stablecoin will be built on the Polygon network, a popular Layer 2 scaling solution for Ethereum. By leveraging the Polygon network, Num Finance can offer users fast and low-cost transactions, ensuring a seamless user experience.

Pre-Seed Funding and Future Plans

Num Finance received $1.5 million in a pre-seed funding round in May, which provided the company with the necessary resources to develop and launch its stablecoin offerings. The successful launch of the Colombian peso stablecoin on Polygon demonstrates Num Finance's commitment to delivering innovative financial solutions to the Latin American market.

Looking ahead, Num Finance has plans to expand its stablecoin offerings further, with the aim of covering additional Latin American countries. By providing stablecoins pegged to local currencies, Num Finance aims to empower individuals and businesses in the region with reliable and accessible digital assets that can help drive financial inclusion and economic growth.


Num Finance's launch of a stablecoin pegged to the Colombian peso on the Polygon network is a significant development in the Latin American stablecoin market. By offering a stable and reliable digital asset, Num Finance aims to address the challenges posed by currency volatility in the Colombian market. With its successful pre-seed funding round and ambitious plans for further expansion, Num Finance is well-positioned to make a lasting impact in the stablecoin ecosystem and drive financial inclusion in Latin America.


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