Belo announced, this Tuesday, March 31, the activation of new fiat ramps for users in Bolivia, Chile, Colombia and Mexico. With this measure, users from these four countries join those from Argentina and Brazil, reaching a total of six nations in the region.
At the same time, Twin Finance (formerly Num Finance) reported the integration of its local stablecoins into the Belo app. The available tokens are: ARGt (Argentine peso), BRAt (Brazilian real), BOLt (Bolivian), CHLt (Chilean peso), COLt (Colombian peso) and MEXt (Mexican peso).
These stablecoins, issued by Twin Finance, maintain a 1:1 peg to local fiat currencies and are backed by real reserves. They operate mainly on the Base network and seek to offer stability in each country’s native currency, instead of relying exclusively on dollar-denominated stablecoins.
What Twin Finance said in relation to ARGt draws attention since it is a token that has been banned by the Argentine National Securities Commission (CNV). This decision, announced on March 12, came as the regulator classified the crypto asset as an investment contract after detecting promises of unauthorized annual returns.
The integration allows users to deposit and withdraw money in local currency directly through Belo and immediately convert it to the corresponding stablecoin.
According to the announcements, this functionality reduces the dependence on traditional bank transfers and their associated costs. Twin indicated that the Users in all six countries can now access digital versions of their local currencies within the platform.
For his part, the founder of Belo, Manuel Beaudroit, invited users to try the new ramps and send comments using a form in Notion.
This development is part of a broader trend of growth of stablecoins linked to local currencies in Latin America. According to a report by NoticiasVE, the supply of stablecoins not denominated in dollars tripled between 2023 and 2026, going from 350 million to 1.1 billion dollars.
The Visa and Dune “Beyond Dollarization” report indicates that 80% of transfers with these stablecoins are intended for real uses such as payments, payrolls and settlements.
Cases such as the Brazilian real, whose volume increased significantly thanks to the integration with PIX, illustrate how tokenized local currencies are gaining relevance as a bridge between traditional financial systems and the Bitcoin-inspired technology popularly known as “blockchain technology.”