Num Finance is a company that offers businesses a fast and efficient way to scale operations in emerging markets with yield, loans and digital assets through our ramps and local tokens via platform or API. Pulse 2.0 interviewed Num Finance CEO and co-founder Agustín Liserra to learn more.
Agustín Liserra’s Background
Agustín Liserra
Liserra has a strong background in both Engineering and Finance, including a Master’s degree in Quantitative Finance. Liserra said:
“Over the course of my twelve-year career, I have gained extensive experience in finance and risk management. Previously, I worked as a Financial Exposure Manager at YPF, the largest oil and gas company in Argentina, where I managed a portfolio worth $10 billion.”
“However, in 2016, my interest was captivated by the world of Crypto and Blockchain, and I became incredibly passionate about the revolutionary potential these technologies hold for the financial sector. This led me to join Bitex, one of the early cryptocurrency exchanges in Latin America. Then, in 2020, I made the move to Buenbit, where I served as the CFO for almost two years.”
“In 2021, an opportunity arose to collaborate with Mariano Di Pietrantonio, a leading figure in the field, to explore the concept of local stablecoins. This presented the perfect fusion of my passions: Finance, Crypto, and Entrepreneurship. We laid the groundwork for Num Finance, assembling a team of exceptional individuals with the shared objective of creating a network of local stablecoins that can provide superior financial tools in LATAM.”
“Our aim was to offer solutions such as credit that would bring value to individuals and businesses across Latin America. We recognized the need for alternatives to the complex traditional finance system and sought to address the monetary challenges faced by the region.”
“In a matter of weeks, Num Finance successfully launched its first stablecoin, nuARS, which closely tracks the value of the Argentine peso on a 1:1 basis. Subsequently, we introduced nuPEN, a stablecoin paired with the Peruvian sol, into the regional market. Achieving significant milestones, we quickly surpassed a circulation of USD 2 million in less than four months. Since our inception, our unwavering focus has been on shaping the future of stablecoins and cryptocurrency finance. Our mission is to provide all users with accessible, high-quality, and user-friendly tools that minimize barriers to entry.”
Favorite Memory And Challenges
What has been your favorite memory working for Num Finance so far? And what are some of the challenges you face in building the company? Liserra reflected:
“Embarking on a project from scratch and witnessing the transformation of ideas sketched on paper into tangible realities is truly remarkable. However, the journey of starting a company is far from effortless or smooth, especially in a region characterized by constant change and challenges. Yet, it is precisely these monetary obstacles that present opportunities to develop financial solutions.”
“From the very beginning, we have worked tirelessly, navigating not only the complexities of the region but also the unpredictable nature of the bear market. Despite these hurdles, we have successfully established operations in three different countries and launched nARS and nPEN stablecoins. In the coming weeks, we will introduce nCOP, the stablecoin pegged to the Colombian Peso. Moreover, during a challenging investment landscape, we have proudly closed our pre-seed round led by Reserve, raising 1.5 million USD. This accomplishment stands as a testament to our unwavering determination.”
“Starting a company from scratch is a remarkable journey, and overcoming the challenges along the way has been immensely rewarding. While there is still much work to be done, we take pride in our achievements thus far and remain committed to our mission.”
Core Products
What are Num Finance’s core products and features? Liserra explained:
“Num Finance aims to enhance accessibility to cryptocurrencies and financial tools for millions of individuals and businesses in the region by introducing and promoting Num-S. These local stablecoins not only broaden the range of applications but also facilitate access to credit, yields, innovative payment methods, remittance, and international transactions.”
“Currently, our flagship product is the Num Network, which provides businesses with a rapid and streamlined avenue to expand their operations in emerging markets using our on-ramps and local tokens. Credits and yields are the most popular and extensively developed offerings within our portfolio. However, in the near future, Num Finance will further extend its services to encompass groundbreaking solutions such as the tokenization of Real World Assets (RWA).”
Evolution Of Num Finance’s Technology
How has Num Finance’s technology evolved since launching? Liserra noted:
“During the initial phase, Num Finance initially deployed Num Stablecoins on the BNB Chain. However, in March 2023, a token swap took place, and the stablecoins were subsequently launched on Polygon as part of an agreement to establish a strong presence on this blockchain. These tokens underwent a rigorous audit process and now benefit from the inherent scalability advantages of Polygon, enabling faster and smoother transactions with minimal fees.”
“One of our primary objectives is to develop a robust platform for Num Finance, catering to the needs of our partners and clients, ensuring seamless access to our products without any barriers. To achieve this, we have assembled a team of expert developers who are dedicated to constructing the platform adhering to the highest security standards while prioritizing an exceptional user experience.”
Significant Milestones
What have been some of Num Finance’s most significant milestones? Liserra cited the following:
— Achieved a circulation of $2 million
— Successfully raised $1.5 million in our pre-seed round, led by Reserve
— Commenced operations in Argentina, Peru, and Colombia
— Formed key partnerships with Buenbit, Ripio, and Let’sBit
— Surpassed the milestone of 15,000 users
Customer Success Stories
Upon asking Liserra about customer success stories, he commented:
“Among our users, yield generation, global payments, remittances, and credit solutions are the most impactful use cases. We frequently hear stories from customers about how our liquidity solutions have helped businesses overcome monetary challenges.”
“For instance, once a medium-size business has made a big sale, but the payment is scheduled to arrive in 15 days. However, the business urgently needs to replenish its inventory in order to capitalize on a growth opportunity. Waiting for the payment to arrive could impede business operations and expose them to risks such as inflation or devaluation, which are common challenges in Latin American countries and emerging economies.”
“Num-S Loans provide businesses with a robust and effective solution. By using their cryptocurrencies as collateral, businesses can quickly secure a loan in Num Stablecoins, utilizing the available balance generated by their deposited collateral. These borrowed Num-S tokens can be easily converted to the corresponding fiat currency at a 1:1 ratio, enabling businesses to swiftly restock their inventory. This streamlined process ensures uninterrupted business operations and eliminates the risks that come with delayed payments. It’s an innovative and accessible financial tool that empowers businesses.”
“These are just a few examples of the use cases that arise on a daily basis, and sometimes they surpass our expectations. As our technology integrates with new protocols, it unlocks even more possibilities for the future.”
Differentiation From The Competition
What differentiates Num Finance from its competition? Liserra replied:
“As trailblazers in the industry, we have taken the initiative to create a revolutionary Network of stablecoins tailored specifically for emerging markets. During our extensive research into the stablecoin market, we made a significant observation: a staggering 99% of stablecoins were pegged to the US dollar, while a mere 1% represented stablecoins linked to currencies like the Euro, Canadian Dollars, or other robust counterparts. Today, we proudly hold the distinction of being pioneers in issuing stablecoins for every country within the operational scope of Num Finance.”
“Furthermore, our collateralization system sets us apart from other stablecoins. We have developed a unique hybrid approach: Num Stablecoins can be minted with the support of various assets, including cryptocurrencies, fiat money, and other assets. We adhere to a strict policy of only issuing new tokens when backed by assets of equal or greater value, ensuring a robust and secure ecosystem.”
Future Company Goals
What are some of Num Finance’s future company goals? Liserra concluded:
“We strive to become the global leader in issuing RWA and stablecoins for emerging markets. Our objective is to successfully achieve this goal, starting with LATAM and expanding to the Middle East and Africa in the near future. The emerging currencies market is valued at over $1 trillion, yet many individuals lack access to advanced financial tools. The potential for growth and impact is tremendous.”
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