Argentina's Banks Create Peso Stablecoins for Business Use

Argentina's banking-backed groups are moving closer to launching peso stablecoins for businesses. Two separate crypto subsidiaries, BEN and DIPE, are being developed by BIND Group and Petersen Group, respectively.

The projects focus on programmable treasury payments, collateral management, and on-chain settlement while banks remain barred from offering crypto services directly. According to a report by Iproup, the initiatives target corporate treasury operations rather than consumer payments.

Unlike U.S. dollar-backed stablecoins, these peso-backed tokens are designed to support business use cases such as automated transactions triggered by on-chain events and collateral-backed lending arrangements.

The regulatory environment is still uncertain, with Argentina's national securities regulator questioning the argt peso stablecoin in March for allegedly constituting a security being offered without complying with applicable regulations.