BIND Group, a banking holding company with more than $2 billion in assets, is developing a stablecoin tied to the Argentine peso through its virtual asset service provider, BEN, for institutional programmable money services. According to Odaily, BIND Group also announced a partnership with Circle to provide BEN clients with locally compliant institutional payment and treasury management services.
Petersen Group is also advancing a second peso stablecoin project through a subsidiary with support from crypto-as-a-service company Lirium. The product, called DIPE, has a white paper, and Lirium provides related solutions for Banco Galicia and Brubank.
The projects are being pursued by companies supported by banking groups rather than offered directly by the banking groups themselves. The Central Bank of Argentina has barred private banks from offering crypto-related services to clients since May 2022. The products are aimed at institutional use cases including treasury management, payments triggered by on-chain events, and collateralized credit management. In March, Argentina’s securities regulator said the peso-pegged stablecoin argt was a security and had not been issued in compliance with regulations.
BIND Group Develops Peso-Backed Stablecoin for Institutional Clients
2026-07-28 08:33:38
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