Argentina peso stablecoins take shape as BIND and Petersen advance projects
Argentina‘s banking-backed groups have moved closer to launching peso stablecoins for businesses, introducing digital peso projects designed for programmable payments while the country’s banking sector remains barred from offering crypto services directly. According to a report by Iproup, two financial holding groups with banking operations are developing Argentine peso-backed stablecoins through separate virtual asset subsidiaries, positioning the products for institutional users rather than retail customers. The projects are being advanced outside the banking entities themselves because the Argentine Central Bank has prohibited private banks from providing crypto-related services since May 2022. BIND Group, which manages more than $2 billion in assets and owns BIND Banco Industrial, is developing a peso-backed stablecoin through its virtual asset service provider BEN, the report said. Earlier this year, BEN also entered a partnership with Circle to give institutional clients access to USDC for treasury management and payment applications under Argentinas regulatory framework. A second initiative is being prepared by Petersen Group through one of its subsidiaries with technical support from crypto infrastructure provider Lirium, according to Iproup. The stablecoin, known as DIPE, already has a published whitepaper, suggesting the project has progressed beyond the early planning stage. Although neither offering has been launched publicly, both target corporate treasury operations
