CLPX, a stablecoin pegged to the value of the Chilean peso, has just been launched on the Stellar blockchain.
Specifically, the stablecoin was launched last Monday, however, it appears that users in the country are not showing too much interest in this one.
According to CLPX Inc, the company behind the launch, the stablecoin is the first one pegged to the Chilean peso.
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According to available data, since the launch of the asset last Monday, it has had a limited volume of only $12,689 out of a total of 12,902 transactions.
It is worth noting the cryptocurrency has been conceived as a cheaper alternative to peso-based remittances, as it works on the Stellar network, which charges significantly lower fees than wire transfers or traditional remittance services.
In addition, another objective of the CLPX is to provide international exposure to Chile's burgeoning copper market.