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In a significant development for the digital asset landscape in Colombia, Wenia, part of the Bancolombia Group, has integrated Chainlink’s Proof of Reserve to secure its Colombian Peso-backed stablecoin, COPW, on Polygon Mainnet. This integration aims to provide end-to-end transparency and protect against minting risks, marking a milestone in Colombia’s digital asset landscape.
ARTICLE: Chainlink partners with Wenia to enhance the transparency of Colombian Peso-backed stablecoin, COPW. The integration of Chainlink’s Proof of Reserve system ensures each COPW token is backed 1:1 by Colombian Pesos. Details: ↓ https://t.co/ZXmvWxbFi9
Chainlink's proof of reserves system provides transparent and real-time verification of asset reserves, ensuring trust in tokenized assets. It's the most widely used solution in the industry, vital for maintaining integrity in DeFi and beyond.https://t.co/JPW1EBKqPH
Colombia's largest bank taps Chainlink for stablecoin transparency https://t.co/D9GYYavHn1
