Minteo Launches Stablecoin-Based Settlement Layer for Latin America

Minteo, a Latin American startup, recently introduced COPM, its first stablecoin pegged to the Colombian peso 1:1, backed by audited reserves in regulated entities. It marks Minteo's first step toward creating a comprehensive settlement layer across LATAM. With over 100,000 Colombians already using COPM through Littio, Minteo plans to extend its blockchain-based services to Mexico, Chile, and Peru, aiming to improve cross-border trade and connect LATAM with G7 currencies.

CEO Santiago Rodríguez emphasized the importance of local stablecoins for transactions within the LATAM region, noting the limitations of dollar-based stablecoins like USDC for daily use. Minteo focuses on transparency and has partnered with BDO for regular attestation reports to ensure consumer trust in their fully-reserved stablecoin. Minteo co-founders bring extensive experience in financial infrastructure and technology startups in Latin America, contributing to the robust development of their stablecoin project.

Benefits of Minteo's stablecoins extend to various sectors, including fintech, e-commerce, and remittances, offering high transactional speed, 24/7 availability, instant pay-outs, and low transactional costs. Co-founder William Durán expressed enthusiasm about the future applications of their stablecoins, anticipating the development of lending, payments, and derivatives startups leveraging their platform.