[ad_1]
The governments of Brazil and Argentina will discuss introducing a common currency between the two countries.
The move would create the world’s second-largest unified economic bloc, similar to the euro – the currency used in most European Union countries.
According to
reportit is possible that the project will be launched this week with the arrival of Brazilian President Lula da Silva in Buenos Aires (23-27 January).
Argentine Economy Minister Sergio Massa stated:
“The necessary parameters for a common currency are being evaluated, covering everything from fiscal issues to the size of the economy and the role of central banks.”
A possible name for the new currency is “sur”. The main goal is to increase trade in the region and reduce the dependence of South America’s two largest economies on the US dollar.
Brazil has been exploring the possibility of creating its own stablecoin. Moreover, the first stablecoin for markets in Argentina and Brazil, based on the Stellar network, has been launched in 2020. Although the details of the new shared currency are still unknown, the possibility of such a project has attracted attention. lots of attention.
“Bitcoin has been a lifesaver for many citizens in Argentina and is being adopted more and more in Brazil. Brazil is the largest crypto economy in Latin America – in 2021,
7.8% of the population of 214 million use crypto. Country policymakers and regulators broadly support the shift to crypto, signaling continued strong growth, and further enabling Brazil to become a regional hub,” said Amanda Russo, Director of Communications at Cryptocouncil.
[ad_2]
Source link
