The Argentine province of Misiones will issue its own native stablecoin.
According to a press release published by Misiones' secretary of finance on July 15, the province enacted a law authorizing stablecoin, which will allow it to create a new funding and transaction tool.
The project has been approved by the House of Representatives of Misiones and is being studied by a team interdisciplinary which includes Adolfo Safran, the Minister of Finance of the province.
"Misiones is the first province in the country to sanction a conceptual framework to develop these digital tools that are transforming finance and public and private management at the global level," the statement said. .
It is not clear whether Misiones will create their own blockchain or operate an existing network to support stablecoin.
The law aims to implement blockchain technology" with the aim of digitizing information in a reliable, transparent, secure, traceable and, moreover, in an environmentally friendly manner, "the statement said.
Blockchain technology will be used in a green bond that will keep track of the carbon footprint absorbed daily by the forests of Misiones.