BIND Group Develops Argentine Peso Stablecoin via Subsidiary BEN

BIND Group, managing $2B+ assets, launches peso-pegged stablecoin through BEN. Partnership with Circle enables institutional payments. Petersen Group also advances DIPE project despite central bank restrictions.

Woofun AI reports that BIND Group, a bank holding entity managing over $2 billion in assets, is developing a stablecoin pegged to the Argentine peso through its virtual asset service provider, BEN. This initiative offers programmable currency services to institutions and includes a partnership with Circle to provide BEN clients with institution-level payment and fund management services compliant with local regulations.

Separately, Petersen Group is advancing a second peso stablecoin initiative named DIPE through a subsidiary, supported by crypto-as-a-service provider Lirium, which also serves Banco Galicia and Brubank. These projects are promoted by companies backed by banking groups rather than the banks directly, as the Central Bank of Argentina has prohibited private banks from offering crypto-related services since May 2022. The products target institutional use cases such as fund management and on-chain payment triggers, following the regulator's March classification of the peso-pegged stablecoin argt as a non-compliant security.