Sur, a company formed by Lemon and Lambda, launched ARSs, a stablecoin tied to the Argentine peso on Ethereum.12
The partners
Lemon brings distribution: 5 million users and 1.8 million cards issued. Lambda brings the infrastructure: Ethereum development, distributed systems, cryptography, and node clients.2
Next currencies
ARSs is the first of a planned family of Latin American stablecoins on Ethereum. Sur lists the Colombian peso, the Peruvian sol, the Brazilian real, and the Mexican peso as next.1
“Today the whole economy runs in pesos: credit markets, stock markets, repos, and practically the entire financial system are denominated in local currency,” said Marcelo Cavazzoli, founder and CEO of Lemon.2