Vibrant is a wallet app developed on Stellar by a team at Sunship, Inc., a subsidiary of the Stellar Development Foundation. By employing Stellar, Vibrant makes it possible for Argentines experiencing inflation to purchase and hold USDC quickly, cheaply, and easily.
Argentina is one of the Latin American countries hit hardest by ever-increasing inflation. With an average annual inflation rate of 24% over the past 20 years in Argentina, the depreciation of the peso ranks as the most relevant issue for Argentines.
To protect themselves from devaluation, Argentines typically preserve their wealth by exchanging the Argentine peso for the US dollar. This process usually involves opening foreign bank accounts and holding onto the physical bills at home. This leaves them with no safe way to store or use their money.
Stablecoins have been growing in popularity in Argentina, but accessing stablecoins through exchanges often leaves customers with a confusing and cumbersome user experience.
Ready to learn more?